Bitcoin May Face Challenges Holding $100K Support Despite Bullish Market Sentiment

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.