- Bitcoin is testing $115K again, with $117K as the next key breakout level for bullish momentum.
- BTC remains in a descending channel, failure to reclaim $115.7K may risk a drop toward $107K.
- Mixed signals persist as ETF outflows continue, but on-chain whale accumulation remains strong.
Bitcoin is once again testing the key $115,000 resistance level after several failed breakout attempts in recent weeks. Bulls are looking to reclaim this level, with the next target set at $117,000 if upward momentum holds. At the time of writing, BTC was trading at $114,219.
Key Resistance Levels and Channel Structure
According to analysis from Captain Faibik, Bitcoin has struggled to close above $115,000 despite multiple attempts. The BTC/USD 14-hour chart shows price moving within a descending parallel channel since mid-July 2025, following a retreat from highs near $122,000.
The current bounce from the channel’s lower boundary has pushed price toward its mid-range. Analysts note that a confirmed breakout above $117,000 would mark a decisive shift in momentum and could open the path to higher resistance levels. Until then, price action remains contained within the channel, with $115,000 acting as the immediate hurdle.
Crypto Patel cautioned that as long as BTC trades below $115,700, bearish bias remains. “Failure to reclaim increases the risk of a breakdown toward $107K or even below $100K,” Patel stated. A bullish invalidation would require a move above $119,000.
Market Drivers and Technical Signals
The broader market outlook remains influenced by macroeconomic expectations. According to the CME FedWatch Tool, most traders anticipate a 25 basis point interest rate cut in September, a move that could weaken the U.S. dollar and support risk assets like Bitcoin.
On-chain data shows continued accumulation from large holders, with over 160,000 BTC added to treasuries in the past month. However, U.S. spot Bitcoin ETFs have recorded four consecutive days of outflows, totaling $196.18 million, signaling mixed institutional sentiment.
Technical indicators are balanced, with the daily RSI at 45 and the MACD maintaining a bearish crossover since late July. Analysts note that a sustained close above $115,000, followed by a break over $117,000, would be necessary to confirm short-term bullish control.
