Technical analysis by persis10t about Symbol BTC: Buy recommendation (8/5/2025)

BTC is currently pulling back from the $123K resistance area, heading toward a major confluence support zone between $107K–$110K, which aligns with: ✅ Previous breakout zone ✅ 0.5–0.618 Fibonacci retracement ✅ Lower bound of the ascending channel ✅ 200 EMA support This level is expected to attract buyers and act as a strong base for the next bullish leg. Price dips into the $107K–$110K support Look for a bullish reversal (reaction candles or bullish divergence) Target 1: $128K – retest of resistance Target 2: $132K – upper boundary of the ascending channel BTC remains within a healthy bullish structure. This pullback is constructive, not bearish. The $108K–$110K zone is a high-probability long setup — wait for bullish confirmation before entering. A daily close below $106.8K would invalidate the structure and open up downside risk.