Technical analysis by TradeSelecter about Symbol BTC on 8/16/2025

Technical Analysis and Outlook: During the current trading session, the Bitcoin market has exhibited considerable volatility, marked by a notable retest of the completed Outer Coin Rally 122000 with a significant pullback to the Mean Support 116600. Current analysis suggests that the cryptocurrency may attempt to rebound from Mean Support at 116600, targeting Key Resistance at 123500. Furthermore, there is potential for this renewed rally phase to progress toward our next objective: Outer Coin Rally 126500. Conversely, a substantial pullback from Key Resistance 123500 is a high possibility before the upward trajectory continues.