Analysis $BTC on July 29

🔍 Timeframe 1D (Day):

The price is currently sideway around the peak region, fluctuating in the range of 116,000 – 120,000 USD.

The price line remains above the middle line of the Bollinger Bands (BB), indicating that the medium-term trend is still positive.

Bollinger Bands are starting to narrow, reflecting accumulation and the possibility of strong volatility soon.

Short-term support: 116,358 USD (middle line of BB).

Resistance: 120,151 USD (upper band of BB) – if broken, it will confirm a new upward movement.

⏱️ Timeframe 4H:

BTC is testing the resistance area of 119,400 – 120,000 USD but has not decisively broken through yet.

BB in the 4H timeframe shows signs of slight expansion, implying momentum may return.

If it cannot break above 120,000 USD in the short term, the price may continue to fluctuate in the range of 117,000 – 120,000 USD.

▶️ Bullish (Breakout above the range of 120,000 USD)

Probability: 65–70%

Near-term target: 122,500 – 124,000 USD

Condition: Need a 4H or 1D candle to close above 120,000 USD with confirmed volume.