$BTC

📊 Bitcoin (BTC/USDT) Market Update — 17 August 2025

- **Current Price:** $118,235

- **24h High:** $118,575

- **24h Low:** $117,172

- **24h Volume:** 5,541 BTC (~$653M in USDT)

- **Price Change (24h):** +0.40%

### 🔎 Price Action

On the **1-hour chart**, Bitcoin has been showing **strong bullish momentum**, climbing from the $117K support area to test resistance near **$118.5K**. After touching the high, BTC faced mild rejection, pulling back slightly but still holding above **$118.2K**, which indicates ongoing buying pressure.

- The **candlesticks** show multiple higher lows, reflecting a short-term uptrend.

- Immediate resistance: **$118.6K – $118.7K**

- Key support: **$117.9K – $118.0K**

### 📈 Indicators

- **Moving Averages (MA5: 216.76, MA10: 248.87)** → Short-term averages are trending upward, signaling a bullish setup.

- **MACD (55.05, DIF: 170.89, DEA: 115.84)** → Positive histogram bars confirm upward momentum, with buyers in control.

- **OBV (7,057.85)** → Volume flow remains stable, suggesting accumulation rather than heavy distribution.

### 🔥 Market Sentiment

The **recent spike to $118.5K** shows strong buyer activity, but the rejection wick highlights profit-taking around the top. If BTC can break above **$118.7K**, the next bullish target will likely be **$119.5K+**. On the downside, failure to hold **$118K** may push the price back to **$117.2K**.

✅ **Summary:** Bitcoin remains bullish in the short term with healthy trading volume and momentum indicators signaling further upside potential. Traders should watch the **$118.7K resistance** closely for a possible breakout, while **$118K support** remains the key zone to hold.