Bitcoin has been moving upward after finding intraday support near a key level. The price has retraced slightly but continues to form higher highs on the hourly chart. A trendline can be drawn, which may prove important for intraday trading decisions.

Bitcoin is trading around a major volume area, serving as a critical support zone. Analyst BitcoinHyper points to a potential inverse head and shoulders pattern, indicating the possibility of a notable upward move. Traders are keeping a close watch on support and resistance levels to anticipate the cryptocurrency’s next direction.

Bitcoin Eyes $119K, Analyst Highlights Resistance

Bitcoin has been trading near $111,200 over the past weekend, a level identified as the point of control—the price area with the highest trading volume in recent lows. Analysts are watching closely for a potential breakout that could push the cryptocurrency toward higher targets.

According to BitcoinHyper, an inverse head and shoulders pattern may be forming, with a projected target near $119,500. This level also coincides with a key liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term zone, suggesting a significant area of interest for traders.

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However, resistance remains a hurdle. Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term must first surpass $113,800 to confirm a bullish trend. Traders are advised to enter long positions near support levels, around $109,300, while short positions may be considered near resistance.

This remains THE BIGGEST level on the entire Bitcoin chart.

Don't miss it: https://t.co/lnflJZ1IXC pic.twitter.com/0FPR5nH0Bb

— BitcoinHyper (@BitcoinHypers) September 8, 2025

Key Support Levels Critical, Analyst Says

Technical indicators present a mixed picture. The daily stochastic oscillator shows overbought conditions, whereas weekly data suggest oversold levels, hinting at potential upward momentum. Market structure on shorter timeframes remains bearish, with lower highs and lows prevailing.

On the downside, analysts have identified $107,200 and $104,700 as critical support and liquidity levels. A breach of these zones could trigger further losses and invalidate long positions.

BitcoinHyper also highlighted Ethereum, XRP, and SUI, noting that entry points for long positions should align with established support levels.

If lower, this is the best support on Bitcoin.

Most will probably get scared: https://t.co/ogEFY1qo9A pic.twitter.com/CTZZXLHSXp

— BitcoinHyper (@BitcoinHypers) August 21, 2025

Analysts Highlight Bitcoin Trends, Support, And Potential Corrections

Earlier, financial analysts have provided insights on Bitcoin’s recent price movements and market trends. John Pompiano suggested the recent decline may reflect seasonal patterns and broader market conditions, with corporate treasuries potentially influencing demand. He also noted that potential U.S. Federal Reserve rate cuts and general economic developments could play a role.

Crypto analyst BitcoinHyper also highlighted technical indicators pointing to short-term downtrends in August, noting that breaches of key support levels could trigger further corrections. Oversold conditions may allow for temporary rebounds, but the overall outlook remains cautious.

Ryan Lee, Chief Analyst at Bitget, expects Bitcoin to trade within a defined range. He noted that futures market leverage and macroeconomic factors, including Fed policy, could influence price direction, with rebound opportunities balanced against potential corrections.