- Bitcoin faces a make-or-break moment at the $115.7K resistance level.
- A breakdown below this zone could push BTC to $107K or sub-$100K.
- A break above $119K is needed to invalidate the bearish outlook.
Bitcoin (BTC) finds itself at a pivotal moment, according to a detailed analysis by CryptoPatel on X.
The cryptocurrency is currently trading below a critical resistance zone of $115.7K to $118.9K, with a recent rejection at the trendline signaling potential trouble ahead.
This bearish bias will persist unless BTC reclaims $115.7K, with a decisive break above $119K needed to invalidate the downward pressure. Failure to hold this level could see Bitcoin plummeting toward $107K or even sub-$100K, a scenario supported by historical volatility patterns where 73% of major corrections follow failed resistance retests, as noted in a 2018 MIT study.
The technical outlook is further clouded by broader market trends. Coinbase data from August 4, 2025, indicates a 4.75% drop in the total crypto market capitalization this week, alongside a 1.32% decrease in 24-hour trading volume. This weakening sentiment aligns with unexpected U.S. labor market revisions, which have historically triggered swift price swings in digital assets, as highlighted by OneSafe’s August 1, 2025, report. A tepid job market often drives interest in riskier assets like Bitcoin, but current overbought RSI signals suggest a correction may be overdue.
For traders, the stakes are high. The chart patterns, including a false break of a rectangle formation noted by Investtech, reinforce the bearish case, with negative volume balance indicating aggressive selling. However, a breakout above $119K could shift the narrative, potentially sparking a bullish rally. Until then, caution is advised, with smart traders already hedging their positions. The battlefield is set at $115.7K—will Bitcoin bounce or break?
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
