Buyers Remain in Control as Bitcoin Dips: FalconX Sees Bullish Market Structure Intact
Despite Bitcoin trading nearly $11,000 below its record high from Aug. 14, market conditions remain firmly bullish, according to FalconX Head of Research David Lawant.
In a post on X Wednesday, Lawant pointed to real-time order book data to argue that the underlying structure of the market still favors the upside. When Bitcoin experiences brief price pullbacks, buy-side demand quickly absorbs selling pressure — a sign of strength typically seen in healthy bull markets.
“Each time BTC dips, the order book flips — sellers disappear, and bids step in aggressively,” Lawant wrote. “That’s not typical of a weak market.”
This pattern suggests institutional investors and other large players are buying into weakness, treating short-term declines as entry points rather than red flags. Lawant’s accompanying chart showed the order book consistently shifting toward buyers after minor drops — a dynamic that signals deep underlying support and a lack of conviction among sellers.
Technical Recap: Strong Support at $112K
Data from CoinDesk Research highlighted key technical developments between Aug. 19 (17:00 UTC) and Aug. 20 (16:00 UTC):
- Price Range: BTC traded between $112,437.99 and $114,337.77, a range of nearly $1,900.
- Midday Dip: At 13:00 UTC on Aug. 20, Bitcoin briefly fell to $112,652.09 amid liquidation-driven volatility before sharply rebounding.
- Volume Spike: The rebound was underpinned by a spike in trading activity — over 14,600 BTC changed hands, well above the 24-hour average of 9,356 BTC.
- Support Zone: The $112,400–$112,650 range has now emerged as a key support area backed by strong volume.
- End-of-Session Rally: Bitcoin climbed from $113,863.05 to $114,302.43 in the final hour, closing at $113,983.06.
- Resistance Levels Broken: BTC cleared resistance at $113,500, $113,650, and $114,000, with price surges powered by volume bursts exceeding 250 BTC/min — an indicator of near-term bullish momentum.
Outlook
While BTC remains well below last week’s peak, FalconX’s analysis highlights a market still dominated by demand. If the pattern of buyers overwhelming sellers continues, analysts say a retest of recent highs may not be far off.
