Trend analysis $BTC on July 30:

1D Frame: BTC price is moving sideways around the resistance zone of 120,000 after a strong increase. Bollinger Bands are gradually narrowing, indicating an accumulation phase. The most recent red candle slightly penetrated the MA20 line, signaling that selling pressure is increasing.

4H Frame: The price is oscillating around MA20, with spikes followed by quick sell-offs. Bollinger Bands are slightly contracting, indicating the possibility of a strong volatility phase upcoming.

→ The likelihood of a slight correction to the support zone around 116,000 – 117,000 is a higher probability scenario in the short term, as the upward momentum is weakening, and the candles failed to approach the resistance zone of 119,500 – 120,000.

Conclusion:

BTC is in an accumulation - correction phase. Need to observe price reaction at the 116,000 zone. If it holds steady, the long-term uptrend will be maintained. Conversely, breaking this zone could lead to a deeper decline.