Bitcoin (BTC) Price Prediction for July 5
0
0
After briefly breaking out of a multi-week symmetrical triangle, the Bitcoin price today is trading around $109,000, down 0.5% on the day. The breakout attempt stalled just below $110,600, a level that aligns with key Fibonacci and supply resistance. While the broader structure remains bullish, intraday indicators are showing divergence and early signs of short-term exhaustion.
What’s Happening With Bitcoin’s Price?
On the daily chart, Bitcoin price recently breached the descending triangle resistance near $108,000, which had capped upside since early June. The breakout was clean but met heavy supply pressure just under $111,000. The move still keeps BTC above the key trendline, suggesting structural strength. However, candles are now consolidating at the edge of the breakout zone, indicating indecision.
The rejection near $110,590 corresponds with the 0.0 Fibonacci level from the latest 1H swing, while the 0.236 retracement near $109,299 is currently acting as short-term resistance. A sustained move above this level is required to maintain upward pressure.
The broader a…
The post Bitcoin (BTC) Price Prediction for July 5 appeared first on Coin Edition.
0
0
Manage all your crypto, NFT and DeFi from one placeSecurely connect the portfolio you’re using to start.
0
0
