COINOTAG News on August 20 reports analysts observed the recent Bitcoin price action as increasingly resembling targeted activity, with BTC slipping below $113,000 amid sustained U.S. selling pressure. Market participants noted the failure to hold the prior support level, a depletion of buying liquidity on exchanges, and identified $112,300 as a near-term level that warrants monitoring for order flow dynamics.
Market technicians, including Daan Crypto Trades, documented that both long and short liquidity has been cleared over the past six weeks, while concentrated liquidity clusters around $120,000. Analyst Rekt Capital highlighted that the current pullback mirrors patterns seen in 2017 and 2021, historically preceding rebounds toward new all-time highs, a comparison offered as contextual market history rather than a guaranteed outcome.