Bitcoin Consolidates Below $110K, Key Triangle Breakout to Decide Next Move

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July 9, 2025

Bitcoin (BTC/USD) is trading in a tight consolidation zone below the critical $110,000 mark. The price action is compressing within a symmetrical triangle pattern on the daily chart, hinting that a major breakout could be imminent. After a sharp rally in April-May, BTC is now navigating sideways movement, while bulls and bears await a decisive move.


Price Snapshot :

  • Current Price: $108,674 (Down 0.25%)
  • Day’s Range: $108,352 – $109,777
  • Resistance Zone: $111,500 – $112,012
  • Support Levels: $106,908 and $102,297 (Bollinger Band basis)

Chart Pattern Analysis:

  1. Symmetrical Triangle Forming:
    Bitcoin is clearly forming a triangle pattern with converging trendlines. This pattern typically leads to a breakout or breakdown, depending on volume confirmation and macro sentiment.
  2. Previous Uptrend Pause:
    After a strong vertical move in April-May (visible with steep ascending support), Bitcoin peaked near $112,000 and has been trading sideways since. Price compression suggests that volatility may spike soon.
  3. Failed Breakout Attempts:
    BTC has made several failed attempts to close above the upper triangle trendline and Bollinger Band resistance (~$111,518), reinforcing the importance of that level.

Bollinger Bands and Moving Averages:

IndicatorValue (Approx.)
Upper Bollinger Band$111,518
Midline (SMA 20)$106,908
Lower Bollinger Band$102,297
  • The price is currently trading between the middle and upper bands, indicating moderate bullish bias, but not a breakout yet.

Volume Analysis:

  • The volume bar has been declining as the triangle narrows, which is typical before a breakout.
  • Watch for a volume spike on the day BTC breaks above $111,500 or falls below $106,000.

Key Levels to Watch:

Immediate Resistance:

  • $111,500–$112,012: Major horizontal and triangle resistance.
  • Break above this could trigger a rally toward $115,000 – $117,500 levels.

Critical Support:

  • $106,900 (SMA): First bounce zone.
  • $102,300 (Lower Band): Final line of support before a breakdown to $98,000–$100,000 zone.

What Traders Should Do Now

Bullish Strategy:

  • Watch for breakout above $112,000 on high volume.
  • Long positions can be initiated with targets of $115K, $117.5K, and extended to $120K.
  • Maintain stop-loss at $106,900 for safety.

Bearish Strategy:

  • Breakdown below $106,900 may drag BTC toward $102K or even $98K.
  • Short entries possible on confirmation with strong red candle and volume spike.

Conclusion: BTC at a Pivotal Point

Bitcoin’s price is currently coiling within a well-defined triangle pattern after a strong rally. The next 2–3 daily candles could determine the direction of the next major move. A bullish breakout could reignite momentum toward $120K, while a failure may lead to a deeper correction.


⚠️ Disclaimer:

The information presented is for educational purposes only and should not be considered financial advice. Please conduct your own research or consult a financial advisor before making investment decisions.


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