BTC Market Update - August 6, 2025

Current Price Action:
Bitcoin is currently trading around $114,400, showing strong recovery momentum after testing lower support levels. The chart displays a classic V-shaped recovery pattern, with BTC bouncing from the $110,000 support zone and establishing a clear bullish trend.

Technical Analysis:
The price action shows Bitcoin has broken above key resistance levels with strong volume confirmation. The sharp upward trajectory indicates renewed buying interest, potentially targeting the $140K level as suggested by Elliott wave analysis. The momentum appears sustainable with higher lows being formed consistently.

Market Sentiment:
Recent market volatility was triggered by risk-off sentiment from geopolitical factors, causing a 3% decline, but the quick recovery demonstrates underlying strength. Trading volume remains robust at over $37 billion in 24 hours, indicating healthy market participation.

Direction & Outlook:
BULLISH - The technical setup suggests continued upward momentum toward $125K-$140K resistance levels. Short-term forecast indicates potential reach of $115,493 by August 9, with longer-term targets remaining optimistic for H2 2025.

Key levels to watch:

Support: $110,000 - $112,000
Resistance: $118,000 - $125,000
Target: $140,000

The overall trend remains intact with institutional adoption and favorable market conditions supporting higher valuations.

Disclaimer: I am not a financial advisor and don't take risk. I am just sharing my personal opinion. Trade on your own risk.

$BTC