According to @CryptoMichNL, BTC failed to break through the $116.8K resistance on its first test, confirming a rejection at that level, source: @CryptoMichNL on X, Aug 19, 2025. He indicates this rejection signals new short-term lows ahead, source: @CryptoMichNL on X, Aug 19, 2025. He adds that the broader market remains strong and that the current area is a buy-the-dip zone, source: @CryptoMichNL on X, Aug 19, 2025.