Happy weekend traders! No doubt, this week was tough and also good, both on the retail and institutional sectors. We saw gold play on different price levels, posting many price variables, However closed with a bullish outlook. But in this article, we are going make a quick review on bitcoin market, price actions and possible future price prediction.
BITCOIN PRICE REVIEW:
Bitcoin had a long strong accumulation period, as many traders thought that there was going to be another phase of a bear market, mostly on retail sectors, exiting their long positions and selling off their hodlings in preparation for another phase of bear market. These are the fearful uniformed retailers. While the institutions were busy accumulating and building up their holdings.
On Tue'08, July,2025, BTC began the moves, with efforts to rice posting signs of strength. After a long period of contraction, pricing at $107k territory forming part of the move origin.
price moved gradually to $108k price level and $109k price level where we had a strong resistance and support. At this point early fearful retail buyers started selling and exiting the market, taking their little profits, anticipating a break down in price. However, the build up was strong at within $109k and $110k price territory.
There, after the play was completed. Price impulsed up breaking $111k territory, and forming a new ATH at $112k price level. From where we kept seeing different highs on price levels being visited, until $118k was printed. And now as at the time of writing, Bitcoin is priced at $117,777.
WHAT DO YOU THINK WILL HAPPEN NOW?
well, going by the market price behavior, we have seen price forming a strong resistance at $118k territory with difficulty to break pass this level.
Looking at the chart above, Bitcoin keep posting strength even when some conditions are there for correction / retracement going by 30 min. TF. This therefore is an indicative that the bulls are still very bullish on higher prices, but there is a need for retracement. possibly, price might visit $115k price level, before resuming the moves up, but with what price momentum we perceive in the market, we can't give a guarantee. There is every possibility for price to visit $130k price level during the next bullish leg. All you have to do is to position yourself following the trend.
DISCLAIMER: This publication is meant for educational purposes only and doesn't indicate any investment advise. Trading cryptocurrency or any other financial market is highly risky, to which you can lose most of your funds, if not all. Therefore, it is advised to always do your own research to build personal confidence.
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