Bitcoin has dropped to $113,400, down over 2.75% in the last 24 hours as the market adjusts to a key technical shift. After weeks of consolidating in an ascending triangle, the price has broken below the structure, sending a warning to traders who had been watching $115K as support. The breakdown also takes Bitcoin below the 50-day SMA at $115,870, which is now resistance. This follows a rejection at $124,450, where a bearish engulfing candle capped a 4-week rally. That reversal has changed the short-term bias from bullish continuation to corrective pullback, so the question is, can Bitcoin hold here, or is a deeper drop ahead? Head-And-Shoulders Risks Grow The daily chart shows a head-and-shoulders pattern with neckline support at $112,000. A clean break below this line could accelerate to $108,000 with an extended target at $105,150. The candles look cautious – multiple strong bearish candles are forming like the early stages of a three-crows pattern, which means sustained downside momentum. Technical indicators confirm this view. MACD has gone negative, and RSI is at 41, which is not oversold yet. There’s room for more downside without a strong bounce. But the bigger picture isn’t broken. Zooming out, Bitcoin still has a sequence of higher lows since June. Small bodied candles forming at $113K-$114K – dojis and spinning tops – are showing indecision not capitulation. Path to $130K Still Open While short-term risks are to the downside, the medium-term outlook is constructive. If buyers come in and take out $116,150, Bitcoin could bounce to $120,900 with a break above $124,450, opening up retests of $127,540 and beyond. #Bitcoin at $113.4K after breaking its triangle. Support at $112K, resistance $116.1K–$124.4K. RSI 41, MACD bearish. Lose $112K → $108K. Hold & rebound → path to $130K. pic.twitter.com/qKVEcOg2VN — Arslan Ali (@forex_arslan) August 19, 2025 For traders: Bullish case: Watch for a bullish engulfing candle above $116,150. That could be a buy signal, targeting $120,900-$124,450 with a stop loss below $112,000. Bearish case: A break below $112,000 could be a short, with a target $108,000. Stops should be above $116,000. Despite near-term selling, institutional buying, and long-term holders are still supportive. Firms like Metaplanet and Strategy are buying during dips, so broader sentiment hasn’t turned bearish. The next few weeks will be telling. A failure to hold $112,000 could take BTC to $100K, while a break above resistance could get us back to $130K if macro conditions stabilize. For long-term investors, the structural bullish trend is still intact, so this correction is part of the accumulation phase, not the end of the rally. New Presale Bitcoin Hyper ($HYPER) Combines Bitcoin Security With Solana Speed Bitcoin Hyper ($HYPER) is the first Bitcoin-native Layer 2 powered by the Solana Virtual Machine (SVM), built to supercharge the Bitcoin ecosystem with fast, low-cost smart contracts, dApps, and meme coin creation. By merging Bitcoin’s security with Solana’s performance, it unlocks powerful new use cases – all with seamless BTC bridging. The project is audited by Consult and built for scalability, simplicity, and trust. Investor interest is surging, with the presale already surpassing $10.6 million and only a small allocation remaining. HYPER tokens are currently available at just $0.012755, but that price is set to rise soon. You can buy HYPER tokens on the official Bitcoin Hyper website using crypto or a bank card. Click Here to Participate in the Presale The post Bitcoin Price Prediction: Can BTC Hold $110K After Triangle Breakdown? appeared first on Cryptonews .
