Bitcoin Faces Key Resistance Near $109K Amid Mixed Signals and Potential Support Retest Around $100K

2025-07-06 08:39:20

Main Idea

Bitcoin's price is facing resistance near $109K with mixed technical signals, while key support levels at $100K and moving averages are crucial for determining its future direction.

Key Points

1. Bitcoin dipped below $109K amid weakening momentum and low trading volumes, with $100K acting as a critical support level.

2. Technical indicators like the Relative Strength Index (RSI) show mixed signals, increasing the importance of key support zones.

3. The 50-day moving average near $102,000 and the 200-day moving average around $95,000 serve as vital support levels for Bitcoin's bullish structure.

4. Resistance levels at $109,000 and $111,000 could lead to a rally toward $115,000 or $120,000 if breached, but declining trading volumes suggest caution.

5. Market sentiment hinges on Bitcoin's ability to hold above $100K, with a breach potentially triggering increased selling pressure.

Description

Bitcoin faces renewed pressure after failing to sustain gains above $109,000, signaling cautious sentiment among traders as key support levels come into focus. Market participants are closely monitoring the $100,000

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