BTC TREND UPDATE ON 17/8#CryptoIntegration $BTC

Technical Observation:

Market Structure:

Previously, there was a strong dump from 124k → 116.7k, breaking the short-term bullish structure (BOS – Break of Structure).

Currently, the price is recovering and moving sideways around 116.7k – 118.5k, creating an accumulation zone.

There is a Weak High at 124k (likely to be tested again) and a Strong Low around 112.5k (strong support on a larger timeframe).

Important Price Levels:

Short-term Support: 116.7k – 117k (has held multiple times → still valid).

Nearby Resistance: 118.5k – 119k (coincides with a liquidity cluster & supply zone before the dump).

Medium-term Support: 114.5k – 115k (if 116.7k is broken).

Volume & DMI:

Volume is gradually decreasing as the price moves sideways → signaling the market is waiting for a breakout.

DMI: the +DI (green) and -DI (orange) lines are quite close, with the ADX (pink) being low → weak trend, price is moving sideways.

📌 Main Scenario:

If 116.7k holds:

The price may continue to test 118.5k – 119k, if it breaks out → target 121k – 122k.

This is a short-term bullish scenario.

If 116.7k is broken (Weak Low):

The price could easily drop to 114.5k – 115k, even retesting the 112.5k Strong Low.

This is a bearish scenario, likely to occur if strong selling pressure appears from 118.5k.

🎯 Current BTC Trend:

Neutral – sideways trap between 116.7k – 118.5k.

Big players may create a drop to 116.7k to accumulate before pushing up to test 119k – 121k.

The long-term trend remains bullish as long as 112.5k Strong Low is not broken.