Bitcoin (BTC/USD) Market Maintains Bullish Bias Amid Sustained Upward Price Structure
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Bitcoin Price Prediction – August 7
BTCUSD market maintains a bullish bias amid sustained upward price structure. BTCUSD is demonstrating a constructive bullish posture, with price action holding above the 9-day SMA, currently positioned near $114,990.
The MACD histogram is showing signs of a momentum shift back into positive territory, reflecting a revival of buying interest after a brief consolidation. The broader trend has been defined by higher swing lows and resilient recoveries from corrective phases, which aligns with a continuation of the prevailing uptrend.
BTC/USD Market Key Levels:
Resistance Levels: $125,000, $130,000, $136,000
Support Levels: $115,000, $108,390, $95,980
BTC/USD – Daily Chart
The BTCUSD daily chart remains bullish as price bounced off a mitigation block.
The $115,000 zone has acted as a pivotal support, rebuffing recent downside attempts and facilitating a bounce toward the $116,470 region. The rebound is further validated by the successful defense of the $112,150 secondary support level, which has historically served as a springboard for renewed upward momentum. The market is currently consolidating below the $118,000 resistance zone, with buyers exhibiting measured control and absorbing supply.
What is the likely projection of BTCUSD?
Looking ahead, a decisive breakout above $118,000 would likely trigger an advance toward the $125,000 resistance, with extended upside potential toward $130,000 if bullish momentum accelerates. Conversely, any retreat toward $115,000 is expected to attract fresh buying interest, keeping the broader bullish framework intact. Overall, the technical landscape suggests that Bitcoin’s upward trajectory remains in place, with market sentiment favoring higher price objectives in the near term.
BTC/USD – Four-Hour Chart
The overall trend of the market is bullish on the four-hour chart. BTCUSD is approaching a major demand zone at $115,000. A massive rally from the zone is expected following the impending bounce.
Bitcoin (BTC) Current Statistics
The current price: $116,480
Market Capitalization: $2,330,000,000,000
Trading Volume: $57,320,000,000
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