Technical analysis by Orriginal about Symbol BTC on 8/8/2025

The descending diagonal "line" is another of those 618 Fib circles. You can see very clearly on this chart what happened the last 2 occasions PA hit one of these. I have little reason to expect things to be any different this time. As a result, we could revisit 107K HOWEVER, we do have the 50 day SMA just below, around 112K, and this could act as support in which case, we will continue to rise through the Fib circle. To some extents, this idea is supported by the daily MACD Currently bouncing off Neutral and with plenty of room to move higher. The 4 hour is also rising Bullish But the Daily RSI is showing possibilities for Both RSI has risen above its average ( yellow line), having been rejected by it repeatably recently.....We need to watch this also to see if it finds support or not. So we have an open Chance of Bullish or Bearish this weekend and my opinion heads towards the short term Bearish till PA hits lower trend line, due to this Fib circle.. I remain Extremely Bullish longer term Have a great weekend Lets see