Bitcoin is quoted almost $ 11,000 below his record of August 14, according to Coendesk data, but Falconx’s head of research says that the internal market structure is still “extremely optimistic.”
In a publication on X on Wednesday, analyst David Lawant pointed out what happens in Bitcoin’s request book, the live record of purchase and sale offers in exchanges, when the price is slightly withdrawn from the maximums.
He explained that after these little dives, sales orders disappear rapidly and purchase orders take care, a dynamic that described as the order book “turning” from the sale side to the side of the offer.
In simple terms, Lawant says that sellers are not staying to push the market after modest decreases. On the other hand, strong demand steps almost immediately, and buyers move to vendors.
This employer suggests that long -term players with deeper pockets, such as well -capitalized institutions and funds, are using brief recessions as purchase opportunities. Instead of pointing out weakness, the absence of sustained sale indicates confidence in Bitcoin’s long -term trajectory.
The lawyer of the table shared reinforces this interpretation. It shows periods in which Bitcoin fell slightly from record levels, only for purchase orders to increase rapidly before sales orders.
This repeated change towards the offer side is a distinctive seal of a bullish market structure, since it shows that demand is waiting on the wings to absorb any offer that reaches the market. For merchants, the food to carry is that Bitcoin’s resistance after the falls points to strong underlying support.
Although Bitcoin is still below its peak of August 14, $ 124,481, the pattern outstanding by lawyers, sellers who disappear quickly and buyers reaffirm the control, continue to support the upward feeling among analysts who see falls as opportunities instead of warning signals.
TECHNICAL ANALYSIS
- According to the technical analysis data model of Coindesk Research, between August 19, 5:00 p.m. UTC and August 20, 16:00 UTC, Bitcoin fluctuated within a range of $ 1,899.78, which quotes between a minimum of $ 112,437.99 and a maximum of $ 114,337.77.
- Around 13:00 UTC of August 20, the price fell to $ 112,652.09 in the middle of the liquidation pressure before organizing a strong rebound.
- The recovery was backed by high commercial activity: 14,643 BTC changed hands, compared to an average of 24 hours of 9,356 BTC.
- This increase established $ 112,400– $ 112,650 as a key support corridor backed by volume.
- In the last hour of the analysis period (15: 47–16: 46 UTC)Bitcoin increased from $ 113,863,05 to $ 114,302.43 before closing to $ 113,983.06.
- The rally broke through a resistance to $ 113,500, $ 113,650 and $ 114,000, helped by high volumes of 250+ BTC per minute, indicating the beginning of a short -term upward trend.
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