‎Bitcoin Completes Bearish Retracement as Bullish Momentum Resurfaces

‎BTCUSD Market Analysis – August 29

‎Bitcoin has completed its bearish retracement phase and now sets the stage for a renewed bullish momentum as price action aligns with key technical confluences.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $107,400.00, $99,900.00
‎Resistance Levels: $116,700.00, $125,500.00

‎BTCUSD Long-Term Trend: Bullish

‎After the significant bullish breakout in early July 2025, Bitcoin surged past multiple previous highs, establishing a strong higher high and confirming the continuation of its long-term bullish structure. This rally extended toward the $116,700 supply level, which was successfully breached, showing the strength of buyers in the market.
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‎However, upon approaching the $125,500 supply zone, the market encountered heavy resistance, leading to a sharp corrective pullback. This decline pushed price back below the earlier breached $116,700 level, retracing into a key bullish order block. During this movement, liquidity was swept from the downside, creating the conditions necessary to fuel the next upward continuation.
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‎Currently, price action has retested the order block, with bullish momentum beginning to show signs of reactivation. The retracement aligns perfectly with the 0.5 Fibonacci level, a commonly observed reversal point, reinforcing the expectation that Bitcoin’s pullback phase has ended and a bullish resurgence is imminent.

‎BTCUSD Medium-Term Trend: Bullish

‎On the 4-hour timeframe, Bitcoin remains well within the daily bullish order block, with price action showing consolidation near critical levels. The Relative Strength Index (RSI) is positioned close to the oversold region, suggesting that a bullish reversal could materialize once momentum shifts from these extreme levels.
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‎In the medium term, the $107,400 demand level is a critical area to watch. Holding above this level will sustain bullish structure, while any decisive breach below it could trigger a deeper pullback before the anticipated bullish continuation resumes.‎

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