Trend analysis $BTC – August 1

Daily Frame (1D):

The price has broken below the middle line of Bollinger Bands (SMA20) and closed at the lower edge of the Bollinger Bands. This indicates that selling pressure is dominating, while the candlestick pattern continuously fails in the range of 119k-120k, creating a strong resistance zone.

→ The downward pressure is increasing.

4H Frame:

BTC has broken the short-term support around 116k and is currently closing candles outside the lower Bollinger Band. This reflects a temporary oversold signal; however, there is no strong rebound, indicating that the buying side is weak.

→ High probability of continued adjustment or sideways accumulation at lower levels.

📌 Conclusion: BTC is leaning towards a short-term downtrend. It is necessary to monitor the reaction at the 114k zone to determine whether buying pressure will return or if the decline will continue deeper.