Technical analysis by ScottMelker about Symbol BTC on 8/11/2025

Bitcoin’s daily chart delivered what can only be described as the easiest trade of the bull market – a textbook retest of $112K as support. Price respected the former resistance level perfectly, bouncing cleanly and confirming it as a launchpad for the next leg higher. The move has been technically sound from start to finish. Price reclaimed and held the 50-day moving average, grinding upward in orderly fashion before Sunday’s strong push through $120K. . Today’s session is key – after a weekend breakout, follow-through is essential to confirm strength. If bulls can sustain this move and close firmly above $120K, the door opens for a retest of the $123K–$124K range highs. Failure to do so risks another round of consolidation beneath resistance, but for now, the trend remains firmly in the bulls’ favor.