#FedGovernorVacancy **Comprehensive Bitcoin Analysis: Technicals, Fundamentals & Sentiment (August 2025)**

**1. Current Price Action & Technical Structure**

- **Price Levels**:

- **Support**: Critical trendline at **$112,000** (major pivot since May 2025) .

- **Resistance**: Strong barrier at **$114,500–$116,000** (EMA50 convergence + downward trendline) .

- *Current Price*: **~$114,500** (as of August 4, 2025).

- **Technical Indicators**:

- **RSI**: Bearish divergence forming, signaling overbought exhaustion and potential downside .

- **Elliott Wave Analysis**: BTC is in **Wave (iii)** of an extended **Impulse Wave 5**, targeting **$130,000** by late August, followed by a correction to **$110,000** in September, then a final surge to **$140,000** by year-end .

- **Ichimoku Cloud**: Risk of a "bearish TK cross" triggering sell signals if price breaks below $112,000 .