Technical analysis by ProSignalai about Symbol BTC: Buy recommendation (8/6/2025)

The broader market structure on BTCUSD remains bullish following a clean Change of Character (CHoCH) at 119,839, which signaled the end of the previous downtrend. This was later confirmed by a Break of Structure (BOS) to the upside. After forming a higher low near $111,903.68, price has steadily climbed, creating a sequence of higher highs and higher lows. This structure suggests the market is in a bullish continuation phase. A strong demand zone is evident between $113,800 and $114,400, where buyers previously stepped in aggressively, leading to a sharp rally. The price barely consolidated in this area before moving upward, confirming it as a solid zone of interest. Above current price, there's a large supply zone between $118,400 and $119,600, where price last dropped sharply—indicating strong selling pressure. Currently, price is trading around $115,300, just below the 0.5 retracement level at $115,871, and has printed bullish momentum candles into this resistance area. The most likely price action is a pullback into the green demand zone ($114,400–$114,000) before resuming upward toward the supply zone around $118,400–$119,600. Trade bias: Bullish Expected direction: Upward after a possible pullback Invalidation level: Break below $113,800 would invalidate short-term bullish bias Momentum condition: Momentum currently favors buyers, with strong bullish candles and higher lows Candle behavior: No signs of exhaustion yet, indicating strength in the move