Technical analysis by Traders-Lounge about Symbol BTC: Buy recommendation (8/7/2025)

Technical Highlights: Pattern Breakout: BTC has broken out of a descending wedge, a bullish reversal pattern. Fibonacci Extensions: The price projection levels are drawn from the recent swing low to high: 1.618 (161.8%) 120,892 2.618 (261.8%) 122,577 3.618 (361.8%) 126,358 4.764 (476.4%) 130,691 = Target Area Volume: A noticeable volume spike supports the breakout. Current Price: Around 117,225 reclaiming above key resistance levels. Bullish Confirmation Levels: 117,373 (Previous resistance now acting as support) 118,495 and 119,541 Strong horizontal resistance to clear Sustained close above 120K could lead to a parabolic move toward 130K+