#BTC Update #13 – Aug 01, 2025#BTC Update #13 – Aug 01, 2025
Bitcoin has approached the lower edge of its current channel and received a reaction from there. However, in the current timeframe, the ongoing candle seems willing to pull back again. The MA200 band held the previous candle well, which also represented the bottom of the current channel. There is high liquidity between the $113,200 and $121,000 zones. I believe Bitcoin will continue to move by sweeping through this region. Therefore, I think Bitcoin’s current target is to reach around the $118,000 level with a 3% push move.
If Bitcoin does not make this move and chooses to pull back instead, it may go as far as filling the imbalance at the $110,000 level. The last impulsive move was made around 20 days ago, and since then, the chart has been progressing with a correction of a correction. As long as there’s no close below $107,500, the uptrend will remain intact in the long term. However, if the $107,500 level is broken with a strong candle, we can say that Bitcoin has turned bearish on the 4-hour timeframe. For now, this doesn’t seem very likely. I believe Bitcoin’s next move will target the $118,000 region, continuing to clear out the liquidity accumulating in the upper ranges. However, this channel will need to break at some point.
