‎Bitcoin Resumes Bullish Momentum with Eyes Set on $134,000 Resistance

‎BTCUSD Market Analysis- August 7

‎Bitcoin resumes its upward trajectory as bullish momentum builds, with price action targeting a breakout above the $122,200 resistance level and setting sights on the $134,000 mark.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: $111,500.00, $98,000.00
‎Resistance Levels: $122,200.00, $134,000.00

‎BTCUSD Long-Term Trend: Bullish

‎Bitcoin has officially exited its previous bearish cycle, marking the beginning of a bullish trend from April 2025. Over the following months, price action showed a steady upward trajectory, establishing a bullish trend line that has continued to guide the market’s direction.
‎
‎By mid-July 2025, Bitcoin reached a key supply zone around the $122,200 level, where it encountered a temporary bearish retracement. This correction persisted until early August, during which price retested the established bullish trend line and found support.
‎
‎This rebound from the trend line support signals a potential continuation of the bullish trend. With price now approaching the $122,200 resistance level once again, bullish momentum is building with expectations of a breakout. Should price breach this level, projections point toward a rally extending to the $134,000 zone, where it is likely to encounter the daily trend line resistance.

‎BTCUSD Medium-Term Trend: Bullish

‎On the 4-hour chart, Bitcoin presents a clear bullish market structure in alignment with the daily trend. Recent price action shows a strong reaction from the trend line support, confirming a structural shift to the upside.
‎
‎Additionally, the price has filled the 4-hour Fair Value Gap (FVG), a move that typically precedes further directional expansion. The 4-hour Moving Average further reinforces the bullish sentiment, with price currently trading above the indicator—adding technical confluence to the anticipated bullish continuation.
‎
‎With both timeframes in agreement, Bitcoin appears poised for a significant bullish breakout in the sessions ahead.

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.