key points:
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Bitcoin bulls retain speed in the wall street open, more on $ 117,000 and more on radar.
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Order-book liquidity suggests that shorts are getting liquid, in which fresh liquidity is added to higher liquidity.
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Bitcoin corresponds to the level of the major Bollinger band, producing another fake breakdown this month.
Bitcoin (BTC) twisted a textbook as the BTC price was pinned by major resistance levels.
Bitcoin shorts pay as pricing new a August high
Cointelegraph Markets Pro and TradingView’s data showed BTC/USD near $ 117,000 before cooling.
The Wall Street Open preserved the bullish speed, and the market participants saw how BTC price would play action.
For popular traders and analyst Rekt Capital, $ 17,200 was important.
Gradually but of course, bitcoin is getting closer to detection
An unnatural triangle-like formation of formation was first discussed on Elite Live Weekly Strategy
Be the elite here: https: //t.co/cwlxysy4t2$ BTC #Crypto #Bitcoin https://t.co/i5seadbwga pic.twitter.com/vwewdyhagi
– Rekt Capital (@Rektcapital) August 7, 2025
Fellow trader Crypnuevo stated that the inverted liquidity on exchange order books was taken with a journey ahead of $ 116,800.
“This is the move of the market – always around and towards liquidity.
Monitoring Resource co -operative data now showed resistance between $ 117,500 and $ 118,000.
Meanwhile, the dialects expanded all the way to blow $ 114,000 around the differences filed in the bitcoin futures of the CME group.
“Bitcoin has successfully found a support with the Daily CME Gap,” saw by REKT Capital.
Bollinger bands track fake BTC price breakdown
Price action still corresponds to the prescribed levels highlighted on the instability indicator of the Bollinger band.
Connected: Bitcoin price echo 2024 pattern in which 50% BTC profit was seen: traders
On Homfrums, Prime rejected into the upper band, which the chart gave that producer John Bollinger described as “Head fake”.
In 2025, the price below the lower band Beofre, rejecting a break in the same style as the previous swing climb, decreased.
“Bitcoin $ BTCUSD and many other cryptos are installing a head fake after squeezing a Bollinger band. Bollinger noted on X.
“Analyzer be careful!”
There are no investment advice or recommendations in this article. Every investment and trading film includes risk, and readers should do their research while taking decisions.