{"id":43864,"date":"2025-08-25T08:16:41","date_gmt":"2025-08-25T08:16:41","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=43864"},"modified":"2025-08-25T08:16:41","modified_gmt":"2025-08-25T08:16:41","slug":"bitcoin-chalks-out-lower-price-high-after-powell-ether-prints-doji-at-lifetime-peak","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=43864","title":{"rendered":"Bitcoin Chalks Out Lower Price High After Powell, Ether Prints Doji at Lifetime Peak"},"content":{"rendered":"<div>\n<p><strong><em>This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/em><\/strong><\/p>\n<h2>Bitcoin: Powell brings bearish lower high<\/h2>\n<p>Bitcoin (BTC) has retraced to levels last seen before Federal Reserve Chair Jerome Powell\u2019s dovish remarks on Friday, which set expectations for a potential rate cut in September.<\/p>\n<p>At the time of writing, BTC is trading just above $112,000, having peaked at around $117,440 on Friday. Technical scrutiny of the daily chart reveals that the pullback from the $117,000 peak has established a lower high in close proximity to the resistance line defined by the previous bullish trendline originating from the April lows.<\/p>\n<p>This lower high reinforces the prior trendline breakdown, signaling a continuation of bearish price action. Complementing this observation, the Guppy Multiple Moving Average (GMMA) indicator is poised to confirm a bearish momentum shift, highlighted by the imminent crossover of the short-term exponential moving averages (white band) below the longer-term averages (red band).<\/p>\n<p>On the weekly chart, the MACD histogram has initiated the new trading week with a sub-zero reading, highlighting the potential acceleration of downward momentum.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/cf8402902d48bfe56e5b8b6324ecd61c03127b13-2854x1402.png?auto=format\" alt=\"BTC's daily chart. (TradingView\/CoinDesk)\" title=\"BTC's daily chart. (TradingView\/CoinDesk)\"><\/p>\n<p>In summary, what do you say about a market that not only resists a sustainable rally on the back of favorable news \u2013 such as Powell\u2019s speech \u2013 but also maintains a series of bearish technical patterns? I&#8217;ll leave it to the readers&#8217; discretion.<\/p>\n<p>Key technical support lies at the $110,756 level, corresponding to the lower boundary of the Ichimoku cloud, with a more substantial support zone marked by the 200-day simple moving average near $100,000. Conversely, reclaiming Friday&#8217;s high of $117,440 is essential to resurrect the bullish case.<\/p>\n<ul>\n<li><strong>Support: <\/strong>$110,756, $100,887, $100,000. <\/li>\n<li><strong>Resistance: <\/strong>$117,440, $120,000, $122,056.<\/li>\n<\/ul>\n<h2>Ether: Loss of upward momentum<\/h2>\n<p>Ether (ETH) printed a doji candle with a prominent upper wick on Sunday, signaling market indecision at record highs. This candlestick pattern forms when the opening and closing prices converge, reflecting a stalemate between buyers and sellers.<\/p>\n<p>However, the relatively long upper shadow, in this case, means that the bull&#8217;s attempts to push prices higher faced significant pushback from bears, who managed to pull the price back down before the close.<\/p>\n<p>While the doji itself does not guarantee a reversal, it highlights uncertainty and a possible loss of upward momentum.\u00a0It warrants caution as it often precedes a potential reversal or a consolidation phase where the market awaits further catalysts for direction.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/5bfeb769a528080e1a54219c0dc8a574a833d8aa-2854x1402.png?auto=format\" alt=\"ETH's daily chart. (TradingView\/CoinDesk)\" title=\"ETH's daily chart. (TradingView\/CoinDesk)\"><\/p>\n<p>A pullback appears likely, as the 14-day relative strength index continued to print lower highs over the weekend, contradicting the new price high. The so-called bearish divergence indicates a loss of upward momentum and often yields corrections.<\/p>\n<p>Interestingly, ether traded 3% lower on the day at $4,624 at press time, with charts indicating support at $4,065, the level from which ETH turned higher on August 20.<\/p>\n<ul>\n<li><strong>Support: <\/strong>$4,065, $4,000, $3,805 (the 50-day SMA).<\/li>\n<li><strong>Resistance: <\/strong>$5,000, record highs. <\/li>\n<\/ul>\n<p><strong><em>Read more: <a href=\"https:\/\/www.coindesk.com\/markets\/2025\/08\/25\/bitcoin-reverses-powell-spike-with-a-flash-crash-as-options-market-signals-jitters-ahead\">Bitcoin Reverses Powell Spike With a Flash Crash as Options Market Signals Jitters Ahead<\/a><\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin: Powell brings bearish lower high Bitcoin (BTC) has retraced to levels last seen before Federal Reserve Chair Jerome Powell\u2019s dovish remarks on Friday, which set expectations for a potential rate cut in September. At the time of writing, BTC is [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-43864","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43864","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43864"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/43864\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43864"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43864"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43864"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}