Bitcoin (BTC) Price Prediction for July 17, 2025
2025-07-16 07:06:15
Main Idea
Bitcoin's price is currently in a volatile holding pattern, with potential for range-bound movement between $115,000 and $118,500, influenced by technical indicators and market sentiment.
Key Points
1. Bitcoin rejected from a local high of $122,000, now testing support levels around $115,000–$116,000.
2. Technical indicators like RSI (51.34, neutral) and MACD show bearish signals, with Bollinger Bands tightening, indicating potential volatility.
3. Key resistance levels are at $118,200 (Bollinger mid-band) and $120,500–$122,000, while support lies at $115,000 (EMA50) and $112,500 (trendline).
4. Options data suggests magnet zones at $117,000–$118,000, with derivatives volume cooling and open interest declining slightly.
5. A breakdown below $115,000 could trigger further downside to $112,500, while reclaiming $118,200 may target higher resistances.
Description
After a sharp rally to a local high of $122,000 earlier this week, Bitcoin price has entered a consolidation phase, trading near $117,300 at the time of writing. While the broader trend remains bullish, several technical signals on the lower timeframes now point to exhaustion. Bulls must defend the $115,000–$116,000 zone to avoid a deeper retracement. Bitcoin Price Forecast Table: July 17, 2025 Indicator/Zone Level / Signal Bitcoin price today $117,316 Resistance 1 $118,200 (Bollinger mid-band) ...
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