Technical analysis by Tealstreet about Symbol BTC on 8/23/2025

Bitcoin surged rapidly to $117,374 on strong volume, reclaiming the level it previously broke down from — a key level that needs to be regained. Sentiment stays positive, fueled by Fed rate-cut expectations and steady whale accumulation driving inflows. Technical Outlook BTC | 1h Local support: 113.8k–113.3k Local resistance: 117.5k If 113.3k–112.8k breaks, higher chance we sweep the lows probably into 110k.