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BTC (-1.84% | Current price 112,885 USDT)
The current BTC price is hovering around $112,800 and has recently been in a downward oscillation pattern. On August 23, there was a strong surge that quickly broke through to a high of $117,417, but it could not hold that level and has since continued to decline. The price has now fallen below the 5, 10, and 30-hour moving averages (the moving averages are in a bearish arrangement), indicating a weak short-term technical outlook.
From the perspective of trading volume, the decline process is accompanied by increased volume, especially when it broke below $113,000, indicating significant selling pressure. The key support below is at $110,600 (recent low), and if it falls below this level, it may further test the $110,000 integer level. The resistance above is in the range of $114,500—$115,000.