ChatGPT predicts: Bitcoin is "slightly bullish" this week, and improved liquidity may drive the price up to 118,000.

After experiencing the turbulence in July, Bitcoin (BTC) has shown cautious movement in August. Today (4th), during the Asian session, the price hovers around 114,720 USD. The market capitalization of Bitcoin reaches 2.26 trillion USD, with a daily volume exceeding 56.6 billion USD. For traders seeking direction this week, it remains the focal point of their attention.

Recent Market Performance

In the past month, Bitcoin has fluctuated like a roller coaster. In mid-July, the price of Bitcoin surged, briefly approaching $125,000, but then retraced due to significant profit-taking and overall market weakness. In late July, the price of Bitcoin plummeted, falling below the $114,000 mark, and is currently struggling to recover this level. The 30-minute chart shows that Bitcoin has attempted to break through multiple times, all of which have ended in failure, indicating that the bullish momentum has not yet returned strongly.

Current Support and Resistance Levels

(Source: Trading View)

Currently, $113,500 is gradually becoming a key short-term support level. If Bitcoin holds this level, it may lay the groundwork for an upward move towards the $115,000-$116,000 resistance level. If it successfully breaks through that resistance level, it could open the way for a rise to $118,000, especially with an increase in volume. On the downside, if it falls below $113,000, it may quickly push the price towards the $112,000-$111,500 support level.

Market Sentiment and Trading Behavior

Despite the recent market weakness, market sentiment has not been overly pessimistic. Many traders believe that the current price range is in a consolidation phase rather than the beginning of a deep retracement. This is reflected in the stable trading activity and moderate buyer interest, especially among long-term holders who view dips as buying opportunities.

ChatGPT Price Outlook for This Week

According to the current chart structure and market sentiment trends, ChatGPT's outlook for this week is "slightly bullish." Due to the market's consolidation after last week's decline, it may range between $113,000 and $115,000 at the beginning of this week. By the middle to late part of this week, if the macroeconomic conditions remain stable, improvements in liquidity may drive the price up to $116,000 to $118,000.

However, caution remains key. Any unexpected negative news—whether from global markets, regulatory developments, or large-scale liquidations—could disrupt the recovery and cause prices to fall back to $112,000.

Key Factors to Follow

Several factors will affect the trend of Bitcoin in the coming days:

1. Volume - Breaking through $115,000 requires sustained buying pressure.

2. Macroeconomic events - Economic data releases or central bank updates may affect risk sentiment.

3. Whale Activity - Large wallet movements remain the main driving factor of short-term volatility.

4. Broader cryptocurrency market performance - The rebound of altcoins may help boost overall market sentiment.

Conclusion

Bitcoin is set to face a critical moment this week. Although the possibility of short-term volatility still exists, technical indicators suggest that a rebound could occur if buyers break through the current support level.

The $116,000-$118,000 range will be a key target for bulls, while bears will strive to push BTC below $113,000 to regain control of the market.

If the momentum strengthens, Bitcoin may recover the mid-July high in August, but for now, traders are preparing for another week of consolidation before any decisive move takes shape.