Chart of the Day - Thursday, August 28, 2025

🏆 Today's Chart of the Day was shared by Louis Sykes (@haumicharts).
 

• Bitcoin has pulled back about ~10% from its record closing high of $123k over the past two weeks. However, Louis notes that the former resistance has turned into support, signifying a successful retest so far.
   
• $108 ~ $110k was the ceiling in the first half of the year, suffering multiple rejections between December and July. It finally cracked in mid-July and hasn't been tested from above as potential support until now.
   
• Losing this key level would've been a major setback for the entire crypto space, but the strong hands appeared where they needed to. This also bodes well for stocks, as Bitcoin has been an excellent leading indicator for risk appetite.