$BTC /USDT

The essentials of the moment:

Current price: approximately $117,775, with an intraday range between $116,953 and $119,288.

Key technical support: strong defense between $116K and $117K, sustained by inflows from ETFs.

Immediate resistance at $118K-$120K, with a breakout above $120K paving the way for new highs.

Solid macro momentum:

ETFs recorded record net inflows (~1,738 BTC on August 15 alone), with BEIIES (BlackRock iShares) leading.

Favorable regulations — such as inclusion in 401(k) retirement plans and executive orders — have unleashed additional flows.

Possible short squeeze and structural consolidation: A “compressed spring” technical pattern is recognized; a breakout above $120K could trigger the next impulse.

Tactical alert: After reaching $124K, Bitcoin fell nearly 5% due to profit-taking and leveraged liquidations, although ETFs continue to cushion the impact.

Optimistic projections: Analysts estimate technical targets between $125K–$137K, and some suggest it could exceed $150,000 if institutional pressure persists.

Technical Scenarios

Scenario Key Condition Estimated Targets

Bullish Sustain above several days >$118K–$120K Short: $125K → Medium: $130–$135K+

Neutral Consolidation between $116K–$120K Technical base for the next impulse

Bearish Break below $116K Correction towards $113K–$115K

Quick Recommendation

Buy if BTC manages to stay above $118K–$120K, either with volume or in firm daily close.

Wait if it corrects towards $116K–$118K, and re-enter only if it shows solid technical support or signs of bullish reversal.

Lightning Summary

Institutional sentiment dominates: massive ETF flows, favorable regulations, and entry into retirement funds strengthen the momentum.

The price is compressed between $116K and $120K — a clear breakout above this channel will be decisive.