Bitcoin’s Baffling Bounce: A Galactic Guide to BTC’s Wobbly Wednesday

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According to CoinStats, the market is currently neither bearish nor bullish, which is about as exciting as watching paint dry in zero gravity. 🎨🌌

BTC/USD

The price of Bitcoin (BTC) has risen by 0.38% over the last 24 hours, which is roughly the same thrill as finding an extra sock in the laundry-unexpected but not exactly life-changing. 🧦🚀

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. Of course, this is assuming the market doesn’t suddenly decide it’s had enough and decides to take a nap. 😴💰

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. In other words, it’s like trying to start a car with a half-dead battery-sometimes it works, sometimes it just makes a funny noise. 🚗🔋

In this regard, consolidation in the range of $113,000-$116,000 is the more likely scenario. Think of it as the market taking a breather before deciding whether to go out for a jog or just stay home and binge-watch cat videos. 🐱📺

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. It’s like predicting the weather in the middle of a cosmic storm-any guess is as good as the next. 🌪️✨

Bitcoin is trading at $114,189 at press time, which is about as stable as a unicycle on a tightrope. 🤹‍♂️🚫

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2025-08-20 19:35