Bitcoin Price Prediction: Can BTC Hold the 112,000 USD Support and Move Towards the 1,000,000 USD Vision?

Bitcoin (BTC) is currently trading at $114,390, having risen nearly 1% in the past 24 hours, with a daily trading volume close to $69.6 billion. Although the short-term rebound offers a bit of relief, technical charts indicate that BTC is still struggling between key support and resistance levels. Market attention is focused on whether the $112,000 neckline support can hold, and whether Brian Armstrong’s proposed long-term target of $1 million by 2030 is realistically grounded.

Technical Aspect: $112,000 as the Bull-Bear dividing line

(Source: Trading View)

* Short-term Trend

BTC has fallen below the 50-day moving average ($116,033), and this average has turned into a resistance level.

A bearish engulfing K-line formed at $124,450, indicating a decline in the rebound momentum for July.

From a technical perspective, the potential “head and shoulders” neckline around $112,000 is crucial. Once it breaks, it may accelerate the drop towards $108,000, or even $105,150.

* Momentum Indicator

MACD: Entering the negative value area, indicating that bearish momentum is strengthening.

RSI: At 44, there is still room for downside.

K-line structure: Continuous bearish pattern similar to “three black crows”, usually associated with deeper pullbacks.

Long-term Structure: Bulls Still Hold the Chips

Despite increased short-term pressure, BTC has still maintained a higher low structure since June.

Small doji near $113,000: indicates market hesitation rather than panic selling.

Rebound target: If the buying pressure pushes BTC to recover $116,150, it is expected to challenge $120,900 → $124,450 → $127,540, and ultimately test $130,000.

Fundamentals: Armstrong’s 1 Million Dollar Vision

Brian Armstrong stated on August 20 that he expects the price of BTC to reach 1 million dollars by 2030, and emphasized:

1. Adoption rate continues to rise

2. Technological Innovation and Expansion of Application Scenarios

3. Supply reduction and market accumulation effect

Although he admitted that this is just a “rough idea in his mind,” it reflects the high confidence of top market participants in the long-term value of BTC.

Trading Strategies and Investment Advice

* Day Trader

Bullish Strategy: If the closing price is above $116,000, you can go long in the range of $124,000-$130,000.

Bearish Strategy: If the closing price is below $112,000, short to $108,000-$105,000.

* Long-term Investors

The current range can be seen as an accumulation zone in a larger bull market.

Buy on dips and pay attention to macro policies, ETF fund flows, and on-chain data changes.

Conclusion

Bitcoin is at a critical technical juncture: the 112,000 USD support is a watershed for short-term trends, while the 116,000 USD resistance is key to restarting the upward momentum. The short-term trend may still experience fluctuations, but from Armstrong’s long-term prediction of 1 million USD to the continuous decline in on-chain supply, the long-term narrative for BTC remains strong. For traders, this is an opportunity to precisely grasp the breakout range; for long-term investors, it is a process of patiently waiting for value realization.