$BTC

To determine whether Bitcoin is likely to bounce or breakdown based on the given trade signal, let's analyze the provided information and current market trends.

*Trade Signal Details:*

- Entry Zone: $116,200 - $116,400

- Take Profit 1 (TP1): $116,950

- Take Profit 2 (TP2): $117,600

- Stop Loss (SL): $115,800

- Trend: Consolidating after rejection from highs

*Current Market Price:* Bitcoin is currently trading at $116,503.56, with an open price of $116,483.92 and a high of $117,630.00.¹

*Analysis:*

Given the current price is within the entry zone, and considering the trend is consolidating after rejection from highs, the trade signal seems to be betting on a potential bounce. The first major uptrend resistance for Bitcoin is at the $120,899 level, and the bottom support sits at $114,790. If the price falls below $114,790, it may see further decline.²

*Prediction and Forecast:*

Some predictions suggest Bitcoin could reach $175,000 in 2025, with potential corrections of up to 30% during the year. However, driven by growing institutional and government interest, Bitcoin could recover and reclaim its highs by year-end.³

*Key Resistance and Support Levels:*

- Resistance: $120,899

- Support: $114,790

*Recommendation:*

Based on the trade signal and current market trends, it's crucial to wait for a confirmation candle before entry, considering the high volatility expected. If the price bounces from the current levels and breaks above $117,000, it might head towards $117,600 (TP2). Conversely, if it breaks down and falls below $115,800 (SL), it could lead to further decline.

Keep a close eye on the market movement and adjust your strategy accordingly.

*Short-term Price Prediction:*

For the next few days, Bitcoin's price prediction suggests⁴:

- August 9, 2025: $112,661

- August 10, 2025: $112,482

- Potential high in August 2025: $119,526.88

- Potential low in August 2025: $115,406.92

Monitor these levels and adjust your trading strategy to manage risks effectively.