Technical analysis by Matthew_8888 about Symbol BTC: Buy recommendation (8/13/2025)

As anticipated, Bitcoin has risen to retest its previous high. Despite facing resistance near the key level and undergoing a pullback, the current retracement remains within a normal and healthy consolidation phase. Technically, the 4-hour chart shows the moving averages maintaining a bullish alignment, and while the MACD exhibits slight sluggishness, there are no clear divergence signals—indicating sustained upward momentum. Traders holding long positions should monitor the support near 119,600. If the price stabilizes upon retesting this level, it may form a continuation pattern. Personally, I maintain a bullish outlook, expecting a breakout above the previous high after sufficient consolidation, with potential follow-through momentum upon confirmation. However, an unexpected drop below 117,000 would raise concerns about a short-term double-top formation. Thank you all for your likes, comments and follows, we really appreciate it!