🧠 Bitcoin Technical Analysis – August 1st, 2025
📉 BTC/USD is under pressure, currently trading near $114,200, after dropping from the recent range highs. The chart shows a clear breakdown from a key consolidation zone between $114,000–\$115,500, marked as a crucial support zone.
🔍 Key Observations:
Major resistance remains at $123,000, where BTC topped mid-July.
A bullish trendline from early July has been broken — confirming momentum shift.
Local support sits at $111,800, a potential next landing zone if this breakdown continues.
The RSI (14) is now in oversold territory, below 30, signaling potential bounce or short-term relief — however, no bullish divergence is visible yet
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🔎 Volume Spike & Momentum:
A noticeable volume spike has appeared alongside the breakdown, confirming strong selling pressure.
Short-term moving averages (e.g., 10 EMA) are now above price, adding to the bearish short-term bias.
🧭 Conclusion:
This region is critical for bulls — if BTC can reclaim the purple support box, it could invalidate the breakdown and trap aggressive shorts. Otherwise, \$111,800 is the next area to watch for a reaction.
Let me know your thoughts below — Will this support hold or is \$110k next?
📉 BTC/USD is under pressure, currently trading near $114,200, after dropping from the recent range highs. The chart shows a clear breakdown from a key consolidation zone between $114,000–\$115,500, marked as a crucial support zone.
🔍 Key Observations:
Major resistance remains at $123,000, where BTC topped mid-July.
A bullish trendline from early July has been broken — confirming momentum shift.
Local support sits at $111,800, a potential next landing zone if this breakdown continues.
The RSI (14) is now in oversold territory, below 30, signaling potential bounce or short-term relief — however, no bullish divergence is visible yet
---
🔎 Volume Spike & Momentum:
A noticeable volume spike has appeared alongside the breakdown, confirming strong selling pressure.
Short-term moving averages (e.g., 10 EMA) are now above price, adding to the bearish short-term bias.
🧭 Conclusion:
This region is critical for bulls — if BTC can reclaim the purple support box, it could invalidate the breakdown and trap aggressive shorts. Otherwise, \$111,800 is the next area to watch for a reaction.
Let me know your thoughts below — Will this support hold or is \$110k next?
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.