2025/8/8 #BTC# $BTC Current trend: Showing a clear upward trend characteristic

1. Price Trend Analysis
Recently, the price rebounded from a low of $113,221 on August 1 to $117,621 on August 8, forming a clear upward channel; the latest closing price of $116,713.46 is still above the previous low, but has retreated from the highest point; on August 7, there was a significant increase in volume (trading volume exceeded 400 million), indicating strong buying pressure.
2. Moving Average System (EMA)
Fast Line EMA(12): 116,067.53
Slow Line EMA(26): 115,446.56
The fast line has crossed above the slow line forming a golden cross, and the fast line continues to be above the slow line, which is a typical bullish arrangement.
3. MACD Indicator
DIF: 620.97 (positive and continuously expanding)
DEA: 333.22 (positive and continuously rising)
Bar chart: 287.75 (positive and maintaining growth)
MACD shows strong upward momentum
4. RSI Indicator
Latest RSI: 59.85
Steadily rebounding from the oversold area (August 1 RSI 25.59)
Currently in the bullish range of 50-70, not yet entering the overbought zone.
5. StochRSI Indicator
%K: 81.12
%D: 90.61
Has rebounded from the oversold area, currently at a high but has not formed a death cross.
6. Volume Analysis
Significant increase in volume during the rise (especially on August 7)
The trading volume during the pullback is relatively shrinking, indicating limited selling pressure.

Comprehensive judgment: Upward trend
The current market shows a clear upward trend characteristic:
1. The price and moving averages are in a bullish arrangement.
2. The MACD double lines continue to expand above the zero axis.
3. RSI remains above the neutral strength line
4. Good combination of volume and price
Although a technical pullback may occur in the short term (due to StochRSI being close to the overbought zone), the main trend remains upward. The key support level is in the range of 115,000-115,500. If this area holds, the upward trend is expected to continue.

Suggested Strategy:
Holders can continue to hold
Short-term traders can wait for a pullback to the support level to buy on dips.
Set the stop loss below 114,800
The next target range can be seen at 118,000-120,000.

Need to pay close attention:
1. If it breaks below the support at 115,000, the trend may need to be reassessed.
2. If the MACD histogram starts to contract, it may indicate a short-term adjustment.
3. If the RSI breaks above 70, it may enter the overbought zone, potentially triggering profit-taking.