Key factors:
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Bitcoin bulls maintain momentum intact on the Wall Avenue open, with $117,000 and better on the radar.
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Order-book liquidity exhibits shorts getting liquidated, with contemporary liquidity being added larger.
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Bitcoin conforms to key Bollinger Bands ranges, producing one other pretend breakdown this month.
Bitcoin (BTC) delivered a textbook rebound transfer Thursday as BTC worth stayed pinned by key resistance ranges.
Bitcoin shorts pay as worth hits new August excessive
Information from Cointelegraph Markets Professional and TradingView confirmed BTC/USD nearing $117,000 earlier than cooling off.
The Wall Avenue open preserved bullish momentum, and market individuals dug in to see how BTC worth motion would play out.
For fashionable dealer and analyst Rekt Capital, $17,200 was essential.
Slowly however absolutely, Bitcoin is getting nearer to discovering out
Potential for reversal from an Ascending Triangle-like formation first mentioned on the Elite Stay Weekly Technique Name this previous Tuesday
Grow to be Elite right here:https://t.co/CWLXYsY4t2$BTC #Crypto #Bitcoin https://t.co/I5sEADbwga pic.twitter.com/VWEwDyHagi
— Rekt Capital (@rektcapital) August 7, 2025
Fellow dealer CrypNuevo famous that upside liquidity on alternate order books had been taken with the go to past $116,800.
“That is the way in which the market strikes – all the time round and in the direction of the liquidity. Market construction for context and MM footprints for indicators,” he advised X followers, suggesting that $119,000 might come “subsequent.”
Information from monitoring useful resource CoinGlass confirmed resistance now thickening between $117,500 and $118,000.
Bids in the meantime prolonged all the way in which to beneath $114,000, surrounding a now-filled hole in CME Group’s Bitcoin futures.
“Bitcoin has efficiently discovered a help throughout the Every day CME Hole,” Rekt Capital noticed.
Bollinger Bands monitor pretend BTC worth breakdown
Value motion nonetheless conformed to prescribed ranges highlighted on the Bollinger Bands volatility indicator.
Associated: Bitcoin worth echoing 2024 sample that noticed 50% BTC positive factors: Dealer
On hourly timeframes, worth rejected on the higher band, whereas the day by day chart delivered what creator John Bollinger described as a “head pretend.”
Value dipped beneath the decrease band earlier than reversing, rejecting a breakdown in the same type to earlier swing lows in 2025.
“Bitcoin $BTCUSD and a lot of the opposite cryptos are establishing a head pretend after a Bollinger Band Squeeze. Curiously, the sample will not be evident within the ETFs as they do not commerce on weekends and holidays,” Bollinger famous on X.
“Analyst beware!”
This text doesn’t include funding recommendation or suggestions. Each funding and buying and selling transfer entails danger, and readers ought to conduct their very own analysis when making a choice.
