Bitcoin Faces Resistance Near $108,000 as Prediction Market Odds Shift Ahead of July 4 Deadline
2025-07-04 05:45:54
Main Idea
Bitcoin is facing strong resistance near the $108,000 level, with technical indicators and market sentiment suggesting a potential near-term pullback.
Key Points
1. Bitcoin has struggled to close above $108,000, only succeeding three times in the past 30 four-hour sessions.
2. The Average Directional Index (ADX) reading of 17 indicates weak momentum, and repeated failed attempts to break the $107,500-$108,000 range show seller dominance.
3. Volume Profile and Moving Averages present mixed signals, with Bitcoin trading above the point of control but showing signs of potential mean reversion.
4. Weekend trading conditions, including lower volumes and wider spreads, complicate Bitcoin's ability to sustain a close above $108,000.
5. Key levels to watch include $108,000 as immediate resistance and $105,000 as critical support for bulls.
Description
Bitcoin’s price action is under intense scrutiny as the cryptocurrency approaches the critical $108,000 mark, with prediction markets showing a notable shift in sentiment. Recent technical indicators reveal a tug-of-war
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