Bitcoin Faces Uncertain Momentum Near $109,000 Resistance Ahead of July 11 Prediction Market Deadline
2025-07-08 21:45:13
Main Idea
Bitcoin is testing a key resistance level near $109,000 ahead of the July 11 prediction market deadline, with mixed technical signals and market uncertainty influencing its momentum.
Key Points
1. Bitcoin is currently trading around $109,090, testing a significant resistance zone just above $109,000.
2. Technical indicators show mixed signals: the 50-day EMA is above the 200-day EMA (bullish), but low ADX readings (13 on 4-hour, 17 on 1-hour charts) suggest weak market momentum.
3. The prediction market's 50-50 odds reflect uncertainty about whether Bitcoin will close above $109,000 by the July 11 deadline.
4. Key resistance levels include the psychological $109,000 mark and horizontal resistance near $109,717.
5. Market sentiment and external factors could influence Bitcoin's price movement, with traders watching for a decisive breakout.
Description
Bitcoin approaches a critical resistance level near $109,000 as the July 11 prediction market deadline on Myriad draws near, stirring mixed sentiments among traders. Technical indicators reveal a delicate balance
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