Categories: Technical analysis

Bitcoin Wave Analysis – 20 August 2025

Bitcoin: ⬆️ Buy

– Bitcoin reversed from support zone

– Likely to rise to resistance level 116754.00

Bitcoin cryptocurrency recently reversed from the support area between the pivotal support level 111950.00 (former monthly high from May, which stopped earlier wave 2) and the lower daily Bollinger Band.

This support zone was further strengthened by the 50% Fibonacci correction of the previous upward impulse from June.

Given the clear daily uptrend, Bitcoin cryptocurrency can be expected to rise to the next resistance level 116754.00.

The FxPro Tech Analysis Team

The FxPro technical experts prepare a daily analysis of the most active currency pairs (majors, crosses, exotics) and commodities. Selected instruments are reviewed on daily trends (D1, H4), using the active Elliott Wave setups, Japanese candlesticks, indicators, and support/resistance levels.

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The FxPro Tech Analysis Team
Tags: Bitcoin

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