Bitcoin May Face Challenges Holding $100K Support Despite Bullish Market Sentiment
2025-07-07 19:20:52
Main Idea
Bitcoin's ability to maintain support above $100K in July is uncertain due to mixed technical indicators and market sentiment, despite recent bullish bets.
Key Points
1. Prediction markets show a 64.5% probability of Bitcoin staying above $100K in July, up from 50%, but technical challenges persist.
2. Key resistance levels are at $109,000-$110,000, with support zones between $97,000 and $104,000, particularly around $102,000-$103,000.
3. The Average Directional Index (ADX) below 25 indicates weak trend strength, and the Squeeze Momentum Indicator suggests potential downside risk.
4. A break below $107,000 could test the $104,000 support level, while surpassing $110,000 would solidify the $100K support.
5. Market conditions and volatility in the coming weeks will be critical in determining Bitcoin's near-term price trajectory.
Description
Bitcoin’s ability to maintain its $100,000 price level throughout July is under intense scrutiny, with prediction markets showing bullish sentiment despite mixed technical signals. While traders on Myriad are increasingly
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