Dear traders, the SteadyGrowth team welcomes you!

Today we would like to focus on analyzing and forecasting the dynamics of BTC.

So, lets start!

Current situation (July, second part):
BTC is trading in the $116K–$118K range, after falling from its July peak of ~$123K. The correction began after overheated growth and a breakout above $120K+, amid profit-taking and a decline in the Nasdaq stock index. Trading volumes have declined, and altcoins have begun to decline more sharply — this is classic market behavior in a correction phase.

Technical analysis:

-Key support: $110K–$114K — this is an area of strong demand where large players may begin to accumulate positions.
-Resistance: $120K–$123K — the zone where the correction began, and a break above it will signal a continuation of the bullish trend.
-The RSI and MACD indicators on the daily chart show a slowdown in the downward momentum and a potential readiness for a reversal.

Forecast until the end of August:

Base scenario most probably:

-The price will stabilize in the $112K–$118K range in the next 1–2 weeks (until the beginning of August).
-In the second half of August, a rebound to $122K–$125K is expected if the reversal is confirmed and the market receives positive macroeconomic signals (e.g., a weakening dollar or capital inflows into ETFs).

Negative scenario:
-A drop below $110K and a retest of $105K if the market continues to sell off and the Nasdaq index continues to fall.
-This could be triggered by panic or strong negative news (e.g., pressure from the SEC or weak US economic reports).

And remember that we always stick to our DCA strategy and RSI signals for successful trades.

Thank you!