Date: July 1, 2025
Category: Crypto Market Analysis
📉 Market Snapshot – BTC/USD Daily View
Bitcoin ($BTCUSD) closed at $106,227 on Tuesday, down -0.89%, struggling to break past the upper trendline of a descending wedge pattern. The price attempted a breakout above $107,500, but faced selling pressure near the Bollinger Band upper limit at $109,207.
📊 Technical Chart Overview:
- Pattern: Descending Wedge – typically a bullish reversal signal
- Price Levels:
- Resistance: $109,200 (BB Upper), $110,000+ (wedge resistance)
- Support: $105,634 (BB mid), $102,060 (BB lower)
- Breakdown Zone: ~$102,000
- Volume: Low to moderate – not yet signaling conviction
- Current Range: $102,000–$110,000
Bitcoin is currently coiling within converging trendlines, and a decisive move is imminent. While descending wedges often resolve to the upside, failure to break out this week could see BTC revisit the $102,000–$100,000 support zone.
📅 What to Watch This Month:
- Macro Events: US inflation data, Fed remarks, regulatory news
- Bitcoin ETF Flows: Institutional demand may support breakout
- On-chain Activity: Network congestion & whale movement
A daily close above $110,000 could trigger short-covering and bring $114,000 back into play. On the flip side, a breakdown below $102,000 may lead to a test of the $98,000-$95,000 zone.
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⚠️ Disclaimer:
This article is for educational and informational purposes only. Cryptocurrency markets are highly volatile. Please consult a financial advisor before making any trading or investment decisions.
