Bitcoin experienced a sharp intraday pullback from ~$107.6K down to ~$105.8K, influenced by new U.S. Senate legislation discussions targeting crypto taxation and exchange regulation. This news injected short-term volatility and prompted a minor sell-off.
However, BTC closed June at its highest monthly level ever (~$107.1K), maintaining a strong macro uptrend. Institutional interest remains robust, with over $4.5B in inflows into BTC ETFs over the past two weeks. On-chain data shows ~98% of BTC supply is in profit, reflecting underlying strength—though short-term caution is warranted due to possible profit-taking.
📉 Technical Analysis (Chart Reference)
🔹 Key Levels:
• Resistance: $107,500 / $112,000
• Support: $105,000 / $103,000 / $100,000
🧠 Observations from the Chart:
• Resistance Zone: Price struggled to break and sustain above $107,500 despite multiple Break of Structure (BoS) attempts.
• Support Zone: Strong horizontal support is established around the $105,000 level—price is currently testing this.
• Market Structure: Multiple Change of Character (ChoCh) patterns suggest a short-term bearish trend, likely driven by macro news impact.
• Upcoming Dip: Chart annotations highlight an expected pullback into the $104K–$105K region before a potential bounce.
• Trendlines: The downward-sloping trendline indicates corrective pressure, but the broader ascending channel remains intact.
📈 Technical Outlook
• Trend: BTC is consolidating within a broad ascending structure on higher timeframes. The current dip aligns with a healthy retest.
• Momentum: 4H RSI and MACD show cooling, signaling temporary bearish momentum.
• Watch Zone: $103K–$105K is key for potential bounce. Losing $100K would invalidate short-term bullish structure.
Next Move Prediction
Short-Term (1–5 Days):
🔻 Expect continued downside/consolidation toward $103K–$105K. High chance of buyer re-entry around support.
Medium-Term (2–4 Weeks):
📈 Bullish continuation toward $112K–$115K if ETF inflows remain steady and no major regulatory shocks occur.
💼 Trading Plan
• Buy Zone: $103,000–$105,000 (scale in during dips)
• Target 1: $112,000
• Target 2: $115,000
• Stop Loss: Below $100,000 (daily close)
Despite short-term news-driven volatility, Bitcoin’s macro trend remains bullish. As long as the $100K support holds, this is likely a dip-buying opportunity. July often brings strong seasonal performance, and ETF demand may act as a major bullish catalyst. Stay alert for news and volume confirmation before committing to entries.
However, BTC closed June at its highest monthly level ever (~$107.1K), maintaining a strong macro uptrend. Institutional interest remains robust, with over $4.5B in inflows into BTC ETFs over the past two weeks. On-chain data shows ~98% of BTC supply is in profit, reflecting underlying strength—though short-term caution is warranted due to possible profit-taking.
📉 Technical Analysis (Chart Reference)
🔹 Key Levels:
• Resistance: $107,500 / $112,000
• Support: $105,000 / $103,000 / $100,000
🧠 Observations from the Chart:
• Resistance Zone: Price struggled to break and sustain above $107,500 despite multiple Break of Structure (BoS) attempts.
• Support Zone: Strong horizontal support is established around the $105,000 level—price is currently testing this.
• Market Structure: Multiple Change of Character (ChoCh) patterns suggest a short-term bearish trend, likely driven by macro news impact.
• Upcoming Dip: Chart annotations highlight an expected pullback into the $104K–$105K region before a potential bounce.
• Trendlines: The downward-sloping trendline indicates corrective pressure, but the broader ascending channel remains intact.
📈 Technical Outlook
• Trend: BTC is consolidating within a broad ascending structure on higher timeframes. The current dip aligns with a healthy retest.
• Momentum: 4H RSI and MACD show cooling, signaling temporary bearish momentum.
• Watch Zone: $103K–$105K is key for potential bounce. Losing $100K would invalidate short-term bullish structure.
Next Move Prediction
Short-Term (1–5 Days):
🔻 Expect continued downside/consolidation toward $103K–$105K. High chance of buyer re-entry around support.
Medium-Term (2–4 Weeks):
📈 Bullish continuation toward $112K–$115K if ETF inflows remain steady and no major regulatory shocks occur.
💼 Trading Plan
• Buy Zone: $103,000–$105,000 (scale in during dips)
• Target 1: $112,000
• Target 2: $115,000
• Stop Loss: Below $100,000 (daily close)
Despite short-term news-driven volatility, Bitcoin’s macro trend remains bullish. As long as the $100K support holds, this is likely a dip-buying opportunity. July often brings strong seasonal performance, and ETF demand may act as a major bullish catalyst. Stay alert for news and volume confirmation before committing to entries.
Trade closed: target reached
Market bounced back from the Given Support Area,,,, Enjoyyyy guysss
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Certified Pro Trader | 9+ years exp | 97% accuracy | Join Sarah Analytics : t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
For Gold: t.me/SarahAnalyticsSignals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.