The upward selling pressure has not been digested + the gap is yet to be filled, the short-term stability of Bitcoin is sought!
After a surge yesterday, Bitcoin still could not strongly break through the historical high and encountered considerable selling pressure, currently falling below 120,000. Pay attention to whether it will continue to surge, especially with tonight's CPI data; it’s better to remain cautious!
In terms of overall trends, there was a surge followed by a pullback, returning to the sideways range. A large amount of selling pressure needs to be digested before another attempt to surge. It is also important to note that there is still a gap in the CME chart below that has not yet been filled; keep an eye on the gap filling situation! Lower edge of the gap: around 117,500! $BTC
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BTC analysis: Daily chart on August 12, 2025
