Trend analysis $BTC on July 31:

Daily frame (1D):

BTC price is fluctuating around the center line of the Bollinger Bands (SMA20), indicating an accumulation state.

The Bollinger Bands are narrowing, showing low volatility and a high possibility of an upcoming breakout.

Recent candles have long upper wicks but did not surpass the resistance area around 119,500 → selling pressure is still present.

4-hour frame (4H):

Price has recovered from the lower Bollinger boundary and is approaching the SMA20 line → a sign of short-term recovery.

However, the price structure remains sideways within a narrow range (116,500 – 119,500), with no clear trend.

There is no significant volume increase, indicating that buying power is not yet decisive.

Highest probability: BTC continues to move sideways/accumulate in the range of 116,500 – 119,500 in the short term.

To establish a clear trend, a breakout from this range with convincing volume is needed:

Break above 119,500 → opens up opportunities towards 122,000+.

Break below 116,500 → clearer bearish reversal signal.