🧭 $BTC holds 115,600 – is 1.618 extension next?
1.Summary of August 7, 2025
1H: BTC traded sideways between 116,000–117,000. RSI hovered near 50, MACD was neutral.
🔹 Volume: declining – confirmed lack of direction
4H: BTC broke out from a rising wedge, closing above the 115,800 level. RSI moved to 60, MACD showed a bullish crossover.
🔹 Volume: surged during breakout – confirming bullish strength
🔹 Fibonacci retracement (112,500 → 117,600):
38.2%: 115,600 (key support)
50.0%: 115,050
61.8%: 114,500
1.618 extension: 120,500
2. Current situation – August 8, 2025
1H: Price: 116,726
RSI ~55 – showing mild bullish bias
MACD positive, but momentum fading
🔹 Volume: moderate – not confirming continued strength
4H:BTC holding above the 38.2% Fib support (115,600).
🔹 RSI ~64
🔹 MACD: still bullish
🔹 Volume: slightly lower – bulls must defend key zone
3. Forecast
As long as BTC stays above 115,600, upside continuation is likely. Breakout above 117,600 with rising volume could target 120,500 (1.618 extension).
Failure to hold 115,600 could open room for correction toward 114,500.
4. $BTC LONG Scenario
Entry: 117,000
Stop Loss: 116,000
TP1: 118,500
TP2: 120,000
TP3: 120,500 (Fibonacci extension 1.618)
5. $BTC SHORT Scenario
Entry: below 116,000
Stop Loss: 117,200
TP1: 115,050 (50.0% Fib)
TP2: 114,500 (61.8% Fib)
TP3: 112,500 (local low)
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