Bitcoin Market Pundits Identify BTC price levels to watch next

Important points

• Bitcoin bulls continue to gain momentum at Wall Street’s opening, as $117,000 is on the radar.

• Shorts liquidated in order book, and fresh liquidity 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.

As the Bitcoin price reaches a new August high, bitcoin shorts are rewarded.

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.

Market participants were eager to watch how BTC prices would move.

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 formation similar to an ascending triangle could be reversed.

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’s CrypNuevo colleague noted that exchange order books were flooded with upside liquidity after the visit 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 Following X, $119,000 is possible. “next.”

Data collected from Monitoring Resource CoinGlass Showed resistance is now increasing between $117.500 to $118,000.

In the meantime, bids extended down to $114,000 and below. This was in response to a gap that has been closed on CME Group’s Bitcoin Futures.

“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 The volatility indicator is a tool that helps you to determine the level of risk.

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

Price rejected the upper band on the hourly chart, but John Bollinger’s daily chart produced what he described as “a “head fake.”

The price dipped beneath the lower band and then reversed, rejecting any breakdown similar to that of previous swing-lows 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 information in this article is neither investment advice nor a recommendation. Risk is inherent in every investment decision and trade. The reader should always do research prior to making their final choice.