Bitcoin continues to exhibit bullish momentum, remaining near key resistance levels and approaching the $117,000 mark. Analysts share their predictions for future movements.
Bitcoin Breaks Key Levels
In recent days, Bitcoin ([BTC](https://cointelegraph.com/bitcoin-price "null")) has shown growth, hitting new highs for August. The BTC/USD price approached $117,000, demonstrating continued bullish trends amid the opening of Wall Street.
Market Liquidity and Positions
Data shows that liquidations of short positions are happening in the markets, leading to fresh liquidity being added at higher levels. Traders note that breaking above $116,800 allowed liquidity to be attracted in the exchange order books. Analysts like Rekt Capital emphasize the importance of the $17,200 level.
Head Fake Formation According to Bollinger Bands
Analyzing volatility indicators on the charts, it is noted that price movements adhere to levels highlighted by Bollinger Bands. Bitcoin failed to hold above the upper band and subsequently retested the lower band, demonstrating a head fake pattern. This movement correlates with previous price lows seen in 2025.
Bitcoin displays a strong bullish trend, confirmed by market liquidity and indicator mechanisms. Traders should pay attention to further price behavior to make informed decisions.
