Technical analysis by weslad about Symbol BTC on 8/4/2025

Bitcoin is currently respecting a clean trendline resistance following a bullish pennant formation. Price is holding firmly above the neckline breakout from the inverse head and shoulders (ISHS), confirming demand strength around the $111K–$113K region. The structure implies another 48% rally projection, mirroring the previous measured move, which points toward a potential target at $167K. A breakout above the immediate diagonal resistance would likely trigger an impulsive continuation, replicating earlier moves from similar setups as annotated. Bias remains bullish while price holds above the neckline pivot. Technical Confluence Pattern Structure: Bullish Pennant + Retest of ISHS neckline Market Geometry: Symmetrical move projection based on previous breakout leg Momentum Flow: Higher lows forming against compressing resistance Volume Expectation: Volatility expansion likely on breakout confirmation Key Trendline: "Big move started when price break this TL" Key Price Levels • Support Zone: $111,800 – $113,000 • Confirmation Zone: Above $123,000 • Primary Target: 🎯 $167,000 • Invalidation Level: ❌ Below $105,000 Execution Plan • Entry: Watch for bullish pennant breakout and retest of diagonal TL • Trigger Method: Limit buy post-breakout or confirmation on volume surge • SL: Just below $105K zone 📥 Let us know your thoughts in the comment section, and feel free to tag your preferred altcoins for analysis. Attention: Our August Altcoin requests will be managed through this post. Kindly submit your preferred altcoins in the comment section below.Bitcoin continues to struggle above the neckline. If price holds, the bulls still maintain the upper hand, and the setup is expected to progress as anticipated.