Key market analysts are growing more optimistic about Bitcoin, suggesting that this stage will be set to a major bull run later this year. The price has shown a pullback of around 4% over the past week, and is currently trading at around $114,168, but a closer look at the chart reveals the potential for an explosive setup.
Despite the pullback, technical indicators and market sentiments suggest a potentially explosive upward movement when critical resistance levels are overcome and the support zone is held firmly. With volume climbing and changing momentum, the market appears to be preparing for a new stage.
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Resistance level holds key
Michael Van de Poppe believes the market structure is beautifully aligned due to the bullish surge, but he emphasizes his attention. Bitcoin has recently bounced back from the $110,000-$112,000 zone, indicating that demand remains strong. Currently I’m pushing towards a resistance band between $115K and 116K.
If Bitcoin can break and hold when it exceeds $116.8K, the next leg to $119.5K could start. That level indicates a return to previous trading range, and above that, it opens the newest doors of all time.
Growing trading volume supports this bullish setup. An increase in volume during upward price transfers usually supports momentum and investor confidence. Van de Poppe also said that while a final sweep below current support may occur, the breakthrough could bring explosive benefits.
With #Bitcoin and #Altcoins’ big bull run later this year, I think the market looks absolutely spectacular.
But let’s first split this resistance. Then we become even happier.
You won’t be surprised by the final sweep before you go up. pic.twitter.com/ucsmcsdybc
– Mycal Van de Poppe (@cryptomichnl) August 4, 2025
Market sentiment is chilled (and that might be a good thing)
Adding another layer to this Bitcoin price analysis, Ali Martinez highlights a major shift in market sentiment. Over the past month, Bitcoin’s Fear & Greed Index has fallen from “extreme greed” (approximately 78) to a more neutral reading of nearly 50, despite its relatively stable price.
Martinez points out that historically, the best buying opportunities often come during periods of “extreme fear.” Although there is no market yet, this cooling of euphoria has been seen by many long-term investors as a healthy sign, suggesting “hot money” is shaking, and could set the stage for a more sustainable gathering.
The main support is close to $55,000, and breaching it could lead to stronger fixes. Long-term investors often get most profits when fear controls and prices reflect undervalued.
Over the past month, market sentiment for Bitcoin $BTC has shifted from extreme greed to neutrality. Historically, the best buying opportunities arise during times of extreme fear. pic.twitter.com/nzifgwtoka
– Ali (@Ali_Charts) August 5, 2025
Macro Support Retest will be added to the drama
Analyst Ash Crypto brings it all together and points out that Bitcoin is in the midst of a critical retest of its long-term macro trendline, dating back all the way back to 2017. For years, this line served as a huge resistance.
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Now, after breaking on top of it, Bitcoin is testing its support near the $114,000 mark.
Source: x
Holding this zone will confirm a breakout and drive a potentially $120K or more rally. However, persistent failures from this level can invalidate bullish papers and lead to a wider setback.
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