For almost a week now, we have been seeing the Bitcoin market moving downwards, and it is still in a downward trend. I thought maybe Bitcoin would touch $130k this month, but given the current market conditions it is not possible this month. Although in August when Bitcoin price was able to create a new ATH, the market touched $124k+ which is the highest in history.
The bitcoin market has seriously been in down trend for a weak now and using the weekly chart the sentiment is negative, I was actually expecting a pull back right after the new all time high was set but seriously wasn’t expecting a dump of more than $10k price value, my realistic expectations was that the market will test $115k support but the support will still hold but right now it has even broken below $112k which was regarded as the primary support now. Now with $112k support broken I expect the market to try to test the one at $108k and if that fails then it will seriously be a heading way down to $102k.
For now we have six days left of August and the Market trend is bearish for the month, I wouldn’t conclude yet that the market will stay like this because historically August for 2025 is supposed to be bullish and end in green candle so probably the remaining days might see bitcoin actually heading up and having like 10% upward movement to end the month in bullish trend, $130k is not looking realistic but the days left can still be enough to get this value up