📊 Technical analysis, signals, forecast for $BTC on August 8

The price has broken through MA(7), MA(25), MA(99) from top to bottom → correction in progress

Current price is below all averages → bearish momentum

Volumes are decreasing, fewer buyers → the market has cooled off after yesterday's impulse

RSI is at an extremely low level (22.84) — signal of potential short-term bounce

🔮 Forecast for $BTC today

🔴 Main scenario: Correction continues (60%)

$BTC may test $116,400 and even $116,000

If RSI stays at the current level — flat or slight decline

🟡 Alt. scenario: Upside bounce (40%)

If RSI plays a role and the market revives — a quick pullback to $116,900 is possible

Breaking $117,000 will open the way to $117,300–117,500, but unlikely today

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📌 Recommendations

🛑 Do not buy now: the market is weak, it might still "drop" further

📉 Look for an entry on a retest of $116,000 or after confirmation of a reversal

🧠 Potentially profitable — short when returning to $116,900–117,000

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📍 Conclusion:

BTC is in a cooling phase. RSI indicates oversold conditions, but there is no confirmation of a bounce yet. Exercise caution — the day may go sideways or with slight decline

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