Bitcoin price is consolidating midweek near $114,189 after a 0.38% 24‑hour rise, according to CoinStats. Expect rangebound trading between $113,000 and $116,000; a daily close above $114,157 would increase the chance of a move toward $115,000.
BTC consolidation range: $113,000–$116,000
24h change: +0.38%; watch daily close above $114,157 for breakout potential.
Midterm bias mixed: false breakout at $112,660 suggests short-term volatility.
Bitcoin price midweek update: BTC price consolidates near $114,189 — watch $114,157 daily close for breakout; read the latest market view and key levels.
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What is the Bitcoin price doing midweek?
Bitcoin price is consolidating midweek around $114,189 after a 0.38% rise in the last 24 hours, according to CoinStats. The market is rangebound, with immediate support near $113,000 and resistance at $116,000; a daily close above $114,157 would raise the odds of a push to $115,000.
The market is neither bearish nor bullish in the middle of the week, according to CoinStats.
Top coins by CoinStats
How is BTC price action shaping on hourly and daily charts?
On the hourly chart, BTC shows bullish behavior following a resistance breakout. If the daily bar closes above $114,157, short‑term growth toward $115,000 is probable. This setup makes intraday momentum traders more optimistic.
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What does the longer time frame indicate?
On the longer time frame, Bitcoin has recovered after yesterday’s bearish bar closed. Even with a bullish daily candle, momentum might be insufficient for a sustained rally without clear follow‑through volume. Expect potential consolidation between $113,000 and $116,000.
BTC/USD
The price of Bitcoin (BTC) has risen by 0.38% over the last 24 hours.
Image by TradingView
On the hourly chart, the rate of BTC is looking bullish after a resistance breakout. If the daily bar closes above $114,157, growth may continue to the $115,000 mark tomorrow.
Image by TradingView
On the longer time frame, the price of the main crypto is rising after yesterday’s bearish bar’s closure. However, even if the candle closes bullish, the energy might not be enough for a further upward move.
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In this regard, consolidation in the range of $113,000–$116,000 is the more likely scenario.
Image by TradingView
From the midterm point of view, the rate of BTC has made a false breakout of the $112,660 level. If the candle closes far from that mark, traders may expect a bounce back to the $116,000 area.
Bitcoin is trading at $114,189 at press time.
Frequently Asked Questions
Is Bitcoin bullish right now?
Bitcoin is neutral to mildly bullish intraday; a key daily close above $114,157 would increase bullish odds, while failure to hold $113,000 would tilt risk lower.
What levels indicate a breakout or failure?
Watch $114,157 for a bullish confirmation and $112,660 as a reference for recent false breakout risk. Support at $113,000 and resistance at $116,000 define the near‑term range.
Key Takeaways
- Rangebound market: BTC likely trades between $113,000 and $116,000 in the short term.
- Watch $114,157: A daily close above this level suggests a move toward $115,000.
- False breakout risk: The midterm false breakout at $112,660 warrants cautious positioning and risk management.
Conclusion
This midweek update for the Bitcoin price shows a market in consolidation, with immediate focus on the $114,157 daily close for breakout confirmation. COINOTAG reports price at $114,189 at press time; traders should use clearly defined risk controls and monitor volume for decisive moves.
Author: COINOTAG · Published: 2025-08-20 · Updated: 2025-08-20
Source: https://en.coinotag.com/bitcoin-may-consolidate-between-113000-and-116000-after-resistance-breakout/