Key points:
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Bitcoin bulls keep an intact momentum at the opening of Wall Street, with $ 117,000 and more on the radar.
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The liquidity of the order book shows shorts that have liquidated, fresh liquidity being added.
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Bitcoin complies with the key levels of Bollinger groups, producing another false breakdown this month.
Bitcoin (BTC) delivered a manual rebound move Thursday while the BTC price remained pinned by the levels of resistance of the keys.
Bitcoin short films pay while the price strikes the new month of August
Cointelegraph Markets Pro and TradingView data have shown that BTC / USD almost $ 117,000 before cooling.
The Wall Street opened the bullish momentum and market players have dug to see how BTC prices are taking place.
For the popular merchant and analyst Rekt Capital, $ 17,200 was crucial.
Slowly but surely, Bitcoin is closer to the discovery
Overturning potential of an ascending training of triangular type discussed for the first time on the weekly call Elite Live Live last Tuesday
Become the elite here: https: //t.co/cwlxysy4t2$ BTC #Crypto #Bitcoin https://t.co/i5seadbwga pic.twitter.com/vwewdyhagi
– Rekt Capital (@rektcapital) August 7, 2025
The encrypted trader noted that the upward liquidity of exchange control books had been made with the visit beyond $ 116,800.
“This is how the market moves-always around and towards liquidity. Structure of the market for the context and the footprints of MM for signs,” he told X subscribers, suggesting that $ 119,000 could come “next”.
Coinglass resource monitoring data has shown thickening resistance between $ 117,500 and $ 118,000.
The offers have extended to less than $ 114,000, surrounding a gap now filled in the future Bitcoin of the CME group.
“Bitcoin successfully found support within the Daily CME Gap,” observed Rekt Capital.
Bollinger groups follow the false price of price BTC
The price action is nevertheless in accordance with the prescribed levels highlighted on the volatility indicator of the Bollinger bands.
In relation: Bitcoin price echoing 2024 model which saw 50% BTC gains: trader
On time times, the price rejected in the upper group, while the daily graphic delivered what creator John Bollinger described as a “fake head”.
The price dropped below the lower strip before reversing, rejecting ventilation in a style similar to previous swing stockings in 2025.
“Bitcoin $ BTCUSD and a number of other cryptos install a fake head after a compression of the Bollinger group. Interestingly, the model is not easy in the ETF because they do not negotiate on weekends and the holidays,” noted Bollinger on X.
“Analyst CAUTION!”
This article does not contain investment advice or recommendations. Each investment and negotiation movement involves risks and readers should conduct their own research when they make a decision.
