Technical analysis by ScottMelker about Symbol BTC on 8/29/2025

Bitcoin continues to grind around a critical level – the $112,000 zone. This area acted as support throughout July and early August, but yesterday’s daily close confirmed it has now flipped into resistance. Today’s candle attempted to push back above it, but price was swiftly rejected – underscoring its importance. On the downside, the shaded region between roughly $108,000 and $109,000 remains the key demand zone. Buyers have stepped in there multiple times this month, keeping Bitcoin from breaking lower. A clean daily close below this range would likely open the door to a deeper move toward $101,000 – the next major support level. As it stands, Bitcoin is caught between $112,000 resistance and $108,000 support. A decisive break either way should dictate the next trend. Bulls need a strong close back above $112,000 to regain momentum, while bears are eyeing a breakdown into the low $100Ks. Until then, expect continued chop around this level – with $112,000 remaining the line in the sand for both sides.