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

💡 Fresh Insights on #BTCUSD 🪙 📈 Shifting Market Dynamics: Potential Upside to 125K... ——————————————— Following a deceptive drop below support—a scenario I highlighted in my previous analysis—and buoyed by dovish signals from Powell, BTC surged from 112K up to 117K. In the wake of Powell's address, which flipped the fundamental outlook to bullish, Bitcoin shattered the short-term downtrend, sparking a climb to 117K. The momentum has since tapered off, leading into a pullback amid the weekend's reduced trading volume. That said, the optimistic fundamentals remain a key factor for upcoming moves. Easing interest rates might provide a solid boost to the market... From a technical standpoint, after probing the 112K area again and creating that fakeout breakdown, Bitcoin has flipped the overall sentiment. By sweeping liquidity and dismantling the nearby bearish pattern, the setup now tilts toward the bulls. Key targets on the radar include 117.8K, 120.27K, and up to 125K. Resistance Zones: 117K, 117.86K, 120.27K Support Zones: 114.6K, 111.9K Should the bulls defend the price above the top of the recent range—staying over the descending channel and the 114.6K level—during this dip, buying pressure could ramp up. Overall, the market shows promise for challenging the upper boundaries of the broader range.