Bitcoin has seen volatility recently, rebounding from a dip to $112,380, but analysts warn that selling pressure could continue. Ahead of Federal Reserve Chair Jerome Powell's Jackson Hole speech, Bitcoin dropped below $112,500, nearing key accumulation support around $112,000. Traders like Michael van de Poppe view this as a potential buy opportunity, suggesting that a move below $111,900 could provide an optimal entry point. If Bitcoin falls through this zone, the next support levels to watch are between $110,000 and $105,000. Conversely, Bitcoin needs to maintain support between $116,000 and $120,000 to sustain a bullish trajectory toward past highs above $124,500. Liquidation heatmaps indicate significant bid orders around $110,000, hinting at a potential downward liquidity grab, while sell orders accumulate above $115,800. The analysis suggests that increased selling from short-term holders may further drive the price towards $110,000, urging investors to stay vigilant as these key price levels approach.

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