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Bitcoin reaches $ 112,500 while gold strikes new heights of all time


Key points:

  • Bitcoin returns to $ 112,000 while the bulls stage key resistance.

  • BTC Price Action preserves the “bull market support channel” in a classic drop to support.

  • Gold reaches new heights of all time as a Bitcoin perspectives praise its macro coverage status.

Bitcoin (BTC) Tapped $ 112,500 after Wednesday’s Wall Street opening while traders slowly turned by the BTC price action.

BTC / USD graphics of one hour. Source: Cointelegraph / TradingView

BTC Price punishes shorts with a rebound of $ 112,000

Data from Cointelegraph Markets Pro And Tradingview have shown that BTC / USD trying to reconquer key support levels.

These included $ 112,000 himself, which formed the bottom of a large plot of liquidity of request on the exchange books.

Data from Rinsing showed that the price was released a piece of this liquidity that day, the rest extending to $ 114,000.

BTC liquidation Heatmap. Source: Coringlass

Commenting, the popular Crown -style merchant has highlighted the main support battles currently at stake.

“It looks like an attempt to recover support 1, which would lead to a return inside the beach,” was part of a X post explain.

CRYPNUVO noted that only two weeks left until a potential optimistic risk catalyst has entered – a Interest rate reduction by the American federal reserve on September 17.

The message described the local stockings of this week at $ 107,270 as a “false decision”, while his compatriot Bitbull reported a classic rebound in the support.

BTC / USDT Table of a day. Source: CRYPUNUVO / X

“$ BTC has rebounded perfectly from his Haussier market support group”, he said X subscribers, referring to a channel formed by two mobile averages.

“This is a sign that bulls have always control.”

BTC / USDT Table of one week with Haussier market support channel. Source: Bitbull / X

As Cointelegraph reportedMany market players are dropped on several deadlines, seeing a retain of $ 100,000 This week.

Bitcoin Bull Case increased as Gold Bat Record Highs

Regarding macro-valatility, the commercial company QCP Capital has seen the chances in favor of Bitcoin in the future.

In relation: BTC vs “very downstream” golden break: 5 things to know in Bitcoin this week

“Two cups this year seem reasonable, but keep an eye on the strands, because new prices could push expectations higher,” he summed up in his last “Asian color»Market update.

“With persistent political uncertainty, a softer US dollar is more likely as long as global growth resists. Gold and BTC remain simple hedges in this backdrop. ”

FED targets rate probability changes for the September FOMC meeting. Source: CME Group

CME Group data Fedwatch tool Confirm that market expectations of a drop in interest rates in September now exceed 95%.

Gold has made new heights of all time on Wednesday, reaching $ 3,567 per ounce.

XAU / USD day table. Source: Cointelegraph / TradingView

This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.