Bitcoin firmly holds the 112K channel, is a breakthrough at 116K imminent?
Overall, Bitcoin's trend is still relatively stable. From the highest point, it has pulled back more than 10,000 points, and the overall adjustment of the market is also quite good. Currently, it has returned to the wedge channel, so the trend can be planned!
Regarding the trend:
After breaking through the last historical high, it has welcomed the first pullback to the previous high point range. The strength of the rebound here is also quite good, with the low rebounding nearly 3,000 points. The upper pressure can focus on the 116,000 position, while the lower support can continue to focus on the 112K position! Will this be the point of breakout and retest before another explosion? $BTC
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BTC Analysis: August 4, 2025 Daily Chart
