Bitcoin Market Pundits Point out BTC Prices to Monitor Next

The following are key points.

• Bitcoin bulls maintain momentum as Wall Street opens, $117,000 or higher is the target.

• The order-book shows that shorts are being liquidated and new liquidity is added.

• This month, Bitcoin has again reacted to Bollinger Bands by displaying a fake breakdown.

BitcoinBTC() made a classic rebound Thursday, as the BTC price was pinned down by important resistance levels.

Shorts on Bitcoin pay out as the price rises to new highs in August

The Data of Cointelegraph Markets Pro You can also find out more about the following: TradingView BTC/USD was nearing $117,000 but then cooled off.

Wall Street opened with a bullish tone, as market participants waited to see what BTC’s price would do.

Rekt capital, a popular analyst and trader, was able to make a profit of $17,200.

#BTC

Bitcoin’s discovery is advancing slowly but surely

On the Elite Live Weekly Strategy Call held on Tuesday, it was first mentioned that a reverse of an Ascending Triangle formation could be possible.

Here is how to become Elite:https://t.co/CWLXYsY4t2$BTC #Crypto #Bitcoin https://t.co/I5sEADbwga pic.twitter.com/VWEwDyHagi

— Rekt Capital (@rektcapital) August 7, 2025

CrypNuevo, a fellow trader noted that the exchange order book had seen an increase in upside liquidity when it exceeded $116.800.

“This is the way the market moves – always around and towards the liquidity. Market structure for context and MM footprints for signs,” He told Followers of X suggest that $119,000 may come. “next.”

Monitoring resource data CoinGlass The resistance between $117.500 and $118,000.

The bids extended to below $114,000 in the CME Group Bitcoin futures, which has now been filled.

“Bitcoin has successfully found a support within the Daily CME Gap,” Rekt Capital observed.

Bollinger Bands track fake BTC price breakdown

The price is still within the prescribed ranges highlighted on this page. Bollinger Bands Volatility indicator

Related: Bitcoin price echoing 2024 pattern that saw 50% BTC gains: Trader

The price was rejected on hourly charts at the upper bands, but the daily chart showed what John Bollinger, the creator of the Bollinger indicator, described as an a “head fake.”

Price dropped to the bottom of lower band and then reversed, resembling previous swing-lows seen in 2025.

“Bitcoin $BTCUSD and a number of the other cryptos are setting up a head fake after a Bollinger Band Squeeze. Interestingly, the pattern is not evident in the ETFs as they don’t trade on weekends and holidays,” Bollinger noted On X. 

“Analyst beware!”

The article is not intended to provide investment advice. Each investment or trading decision involves some risk. Readers should do their own research before making any decisions.