‎Bitcoin Faces Short-Term Pressure Within Bullish Structure

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you are unlikely to be protected if something goes wrong. Take 2 minutes to learn more

‎BTCUSD Market Analysis – August 3

‎Bitcoin faces short-term bearish pressure while maintaining its long-term bullish structure, as price retraces toward a key support zone that may determine the next major move.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $103,500.00, $93,400.00
‎Resistance Levels: $114,800.00, $127,800.00

‎BTCUSD Long-Term Trend: Bullish

‎Since April 2025, Bitcoin has maintained a strong bullish trend, successfully breaking past the $103,500 resistance level and entering a higher price range. The momentum carried price toward the $122,800 supply level, where it faced immediate rejection, signaling the start of a bearish retracement.
‎
‎This retracement has pulled price back toward a significant daily order block. Notably, this zone aligns with the 0.618 Fibonacci retracement level—an area known to act as a strong reversal point during corrections. This confluence increases the likelihood of a potential bullish rebound from this region.
‎
‎Additionally, the daily Relative Strength Index (RSI) shows a decline in momentum, reinforcing the ongoing bearish pressure. However, a strong bullish reaction is anticipated once price fully tests the daily order block, potentially reigniting the broader bullish trend.

‎BTCUSD Medium-Term Trend: Bearish

‎On the medium-term (4-hour) chart, a new lower low has formed, confirming the short-term bearish structure. As price continues to descend toward the daily order block, the 4-hour RSI indicates that Bitcoin is entering oversold territory—suggesting a possible bullish bounce in the near term.
‎
‎This anticipated bullish move is likely to be corrective and may aim to fill the nearby 4-hour Fair Value Gap before price continues its path to the daily order block. For a sustained bullish continuation, however, price may need to briefly dip below the current order block zone to collect liquidity before making a stronger move to the upside.

Make money without lifting your fingers: Start using a world-class auto trading solution

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.