Technical analysis by Sive-Morten about Symbol BTC: Buy recommendation (8/4/2025)

Morning folks, So, neither NFP data nor technical picture helped BTC to stay above 117. While US Treasury is started drain liquidity and borrow (they need 1 Trln this month), sending ~ 150 Bln to its TGA account with the Fed - BTC got hurt. Now price stands at vital area - previous tops. If BTC will drop under 110K, collapse could start. Let's hope that this will not happen... Meantime, we're at 112-113K support. We already talked about it before. Here we have reversal bar and bullish engulfing pattern, so maybe we could get a bit higher pullback on intraday chart. 113.8 and 113.1K support areas on 1H TF might be considered for long entry. Invalidation point for this plan is the low of engulfing pattern.