Bears Dominate Bitcoin Despite Fed Rate Optimism

On August 30, bitcoin fell below 110,000 dollars, confirming persistent selling pressure. Technical indicators highlight a marked bearish trend, while the market hesitates to find a balance point. Between a critical support at 107,000 dollars and a solid resistance at 114,000 dollars, the next break could guide the trajectory for the coming weeks. In an uncertain economic context, tension rises among investors, divided between the fear of a new drop and the expectation of a reversal.

Technical dominance by sellers

While a major player liquidates their bitcoins to bet on Ethereum, the main crypto started August 30 under palpable tension. Priced at $108,526, it moved in a critical zone, with a capitalization of $2.16 trillion and a volume of $47.69 billion over 24 hours.

Bitcoin remains firmly under bearish control, a trend confirmed by all timeframes observed: daily, 4-hour, and 1-hour. Sellers set the pace, as shown by volume spikes during declines, and the buyers’ inability to support rebounds.

In the short term, the $107,000 threshold acts as a lifeline, while the $114,000 zone marks a resistance the market fails to reclaim.

Technical indicators and chart configurations support this bearish reading. Here are the most important elements :

• A clear bearish trend on daily and 4h charts : series of lower lows and lower highs, last local peak at $124,500, recent floor at $107,400 ;

• Dominant selling volume : significant presence of sellers on every marked drop ;

• Technical indicators in negative zone : RSI at 38, sign of weakening but not yet oversold. MACD at -1766 and momentum at -5704, two markers of a clear imbalance favoring bearish investors. Stochastic at 18 and CCI at -140, reinforcing the bearish bias ;

• All short and medium-term moving averages (EMA/SMA 10, 20, 30, 50, 100) point downwards, invalidating any rebound attempts at this stage ;

• A weak consolidation structure between $107,400 and $110,500, without significant pickup in buying volume.

In summary, the current momentum remains resolutely bearish in the short term. Critical technical levels are tested, but no bullish breakout or reversal signs are noted. Buyers wait, but sellers still control the pace.

Subtle signs of a possible bitcoin stabilization

While the short term remains under selling pressure, some market elements reveal a more nuanced dynamic. In particular, long moving averages, such as the 200-period EMA and SMA, still send bullish signals.

This is a notable exception in an overall bearish technical environment, which could indicate structural resilience over the long term. The levels to watch are clear: a break above $109,500 with volume could revive bitcoin’s bullish momentum bitcoin, with an immediate target around $111,000.

Beyond charts, the macroeconomic context adds another layer of complexity. The core PCE index for July showed a 2.9% increase, in line with expectations, without rekindling fears of immediate monetary tightening.

This data was not strong enough to question expectations of a rate cut by the Federal Reserve in September. Additionally, in his speech at Jackson Hole, Jerome Powell tempered inflation fears, which strengthened market optimism regarding an upcoming easing of rates. A Fed decision in this direction would signal positive for risk assets.

Bitcoin currently moves in a tunnel of uncertainty. Short-term technical data clearly leans towards sellers, but deeper signals, both graphic and macroeconomic, suggest possible reversal paths in the medium term. Attentive investors will carefully watch levels of $107,000 and $109,500, as that is likely where the next market sequence will be played.