On August 14, ahead of the Trump–Putin meeting, reports emerged that Russia is preparing to test its nuclear-powered cruise missile “Burevestnik,” cooling market risk appetite. BTC surged from $118K to above $124.6K before pulling back toward $122K. The $120.1K and $117.9K zones serve as key short-term supports, acting as major retracement levels for this rally.
If geopolitical tensions escalate, BTC could retest the lower support range; if tensions ease, short covering could extend the rally toward the $129K liquidity zone.
Bitunix Analyst’s View: Geopolitical risk is rising, making BTC trade more of a “range play” in the near term, with direction driven by headlines rather than fundamentals. Key resistance: $124.6K, $126.8K, $129K; supports: $120.1K, $117.9K, $115.7K.
