Bitcoin, the world's most valuable coin, is at a critical level as market participants carefully monitor price movements. In the short time frame, the 4- and 6-hour charts show oversold RSI levels and bullish divergence. According to On the Scott Mercer chart. These signals are offered with a key $112,000 support mark and coincides with news that could affect market sentiment.
Bitcoin RSI patterns around key support zone
CoinMarketCap data shows that Bitcoin is trading at $115,114.89 at press time. Digital assets are below A recent high of $124,000.
Analysts point out that the four- and six-hour charts show bullish divergence with sold RSIs. A similar pattern may also be formed in 12 hours and daily charts.
$ BTC 4 hours
Bitcoin shows bullish divergence (again) along with oversold RSI in 4 and 6 hours. Probably 12 hours. Probably every day.
All keys $112K support.
Anything can happen, but it's always interesting when it shows a very strong signal consistent with a news event. pic.twitter.com/x2uddqgozs
– Wolf of All Street (@scottmelker) August 22, 2025
This is important as $112,000 has served as a strong level of support for several days. If the level applies, many believe it can pave the way for another ascent. If it fails, the market may see more pressure.
It is important to add that the timing is also attracting attention as these signals are displayed along with broader global news on cryptocurrencies. Some traders believe that alignment of these metrics increases the likelihood of rebounding.
More importantly, we note that other market participants are cautious and the market is unpredictable. The mixed view reflects how much weight investors are giving both technical signals and current events.
The Philippines is planning a Bitcoin Reserve
Separate news from price outlook has created a major development from the Philippines.
A new bill called strategic Bitcoin Reserve The ACT is introduced to purchase 2,000 BTC each year for five years and hold it for 20 years.
The bill's sponsor explained that the goal is to strengthen the country's financial position and add long-term stability.
He also believes it will help the Philippines participate in the growing global cryptocurrency market. If approved, this measure will make the Philippines one of the first countries to formally build such reserves.
Meanwhile, Bloomberg analyst Mike McGrone warns that a sudden price surge could drive. Reaction from the US Federal Reserve.
