Phemex Analysis #97: What's Next for Bitcoin, After $123k?!Bitcoin ( PHEMEX:BTCUSDT.P ) recently made history by hitting an all-time high of $123,251 on July 14, 2025. However, enthusiasm was quickly tempered as BTC retraced by approximately 6%, dropping sharply to around $115,696 on July 15. Currently, the price has partially recovered and is trading at about $118,200.
With the market sentiment at a pivotal juncture following this volatile movement, traders and investors are carefully considering their next steps. Let's dive into several possible scenarios that might unfold in the coming days.
Possible Scenarios
1. Bullish Continuation (Breakout Above $123k)
If Bitcoin quickly regains bullish momentum, it may retest and surpass its recent high at $123,251. Breaking decisively above this resistance could trigger another strong rally, driven by renewed market optimism and potential institutional inflows.
Pro Tips:
Entry Strategy: Look to open or add to existing positions upon confirmation of a clear breakout above $123,251, especially if accompanied by high trading volume.
Profit Targets: Key resistance zones for profit-taking after a breakout include psychological levels at $128,000, and the significant milestone at $130,000.
Risk Management: Use protective stop-loss orders placed below the recent low around $115,000 to manage downside risks effectively.
2. Extended Consolidation (Range-Bound Scenario)
Bitcoin could enter a period of price consolidation, fluctuating between support at approximately $115,000 and resistance near $123,000. This scenario often occurs when the market awaits clearer directional cues.
Pro Tips:
Range Trading: Employ a grid-trading strategy, placing buy orders near support ($115,000–$116,000) and sell orders around resistance ($122,000–$123,000) to maximize profits from short-term volatility.
Monitoring Indicators: Keep an eye on declining trading volume, which often signals the potential for an upcoming breakout or breakdown.
3. Bearish Pullback (Correction Scenario)
Given the rapid recent surge to all-time highs, a deeper market correction remains possible. If BTC decisively breaks below support at $115,000 with strong selling pressure, further declines towards $107,218 or even $98,132 could ensue, especially if accompanied by negative broader market sentiment.
Pro Tips:
Short Opportunities: Experienced traders might explore short positions if BTC convincingly breaks below the $115,000 support level.
Accumulation Strategy: Long-term investors can strategically accumulate positions around significant lower support levels such as $107,218 and $98,132, provided price stabilization signals are evident.
Conclusion
Bitcoin is currently at a crucial technical and psychological level after hitting its latest all-time high. Traders should closely monitor the outlined scenarios—particularly watching key resistance at $123,251 and essential support at $115,000. By utilizing disciplined risk management, proactive profit-taking strategies, and careful market analysis, investors can effectively navigate BTC’s ongoing volatility and strategically position themselves for the next significant move.
🔥 Tips:
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Disclaimer: This is NOT financial or investment advice. Please conduct your own research (DYOR). Phemex is not responsible, directly or indirectly, for any damage or loss incurred or claimed to be caused by or in association with the use of or reliance on any content, goods, or services mentioned in this article.
