Technical analysis by paper_Trader1775 about Symbol BTC on 8/7/2025

technical analysis (TA) on this Bitcoin/USD 4-hour chart highlights several key elements: - **Trendlines & Structure**: There is a prominent descending red trendline marking current resistance, showing that price has been consistently rejected at lower highs. - **Moving Averages**: the plotted the 50-period (blue) and 200-period (orange) moving averages. The price recently attempted to break above both, which typically signals a test of momentum; however, rejection suggests bearish pressure still dominates. - **Support & Resistance**: Horizontal levels are marked for resistance (~115,173-115,114) and support below (~113,832). These zones align with previous price reactions. - **Demand & Supply**: the labeled demand zone between roughly 110,312 to 111,957, where buying interest has previously stepped in, evidenced by higher trading volumes in that area. - **Volume**: Enhanced volume is seen around the demand zone, supporting its strength. Decreasing volume during recoveries hints at weakening buyer conviction on upswings. - **Market Structure**: Price is trading under the major moving averages and below both the structural resistance and trendline, indicating bears remain in control unless a breakout occurs above these levels. In summary, the chart analysis conveys that Bitcoin is still in a bearish structure, struggling to regain momentum above key resistance and trendlines, with strong demand only expected in the lower highlighted box. Bulls need a decisive breakout above the descending red trendline and major moving averages to shift the narrative. (Perplexity and me)