Bitcoin’s capacity to sustain prices above the psychological $100,000 threshold this month remains uncertain despite heightened bullish market bets, as technical indicators present conflicting signals.
Prediction markets currently assign a 64.5% probability of Bitcoin retaining its position above $100,000 throughout July, marking a notable increase from previous odds of 50%. However, significant technical resistance stands between $109,000 and $110,000, while primary support hovers in the $97,000 to $104,000 range, with particular focus near $102,000-$103,000.
Key technical gauges suggest market vulnerability: the Average Directional Index (ADX) reading below 25 signals weak trend momentum, while the Squeeze Momentum Indicator points to potential downside pressure.
Market analysts indicate that a decisive fall below $107,000 could trigger a retreat toward the $104,000 support zone. Conversely, a sustained breakout above $110,000 would bolster confidence in Bitcoin’s $100,000 foundation.
Volatility and market conditions in the immediate term remain crucial determinants of Bitcoin’s final price trajectory for the month.