Bitcoin Price Analysis: BTC at Risk of Pullback as New ATH Hopes Diminish
2025-07-08 11:32:57
Main Idea
Bitcoin's bullish momentum has weakened near its all-time high of $111K, showing signs of exhaustion and potential bearish reversal due to strong selling pressure and a possible double-top pattern.
Key Points
1. Bitcoin's rally toward its $111K all-time high has lost momentum, with strong selling pressure emerging at this key resistance level.
2. The inability to reclaim the previous high around $110K suggests the potential formation of a double-top pattern, a classic bearish reversal signal.
3. Bitcoin is currently trading between two liquidity zones: below $105K and above $110K, which could trigger a breakout in either direction.
4. Taker users on Binance Derivatives have shown persistent sell-side activity over the past 45 days, with Bitcoin remaining range-bound between $100K and $110K.
5. The Cumulative Volume Delta (CVD) has consistently indicated aggressive selling pressure, though a bullish breakout remains possible.
Description
Bitcoin has slightly lost its bullish steam upon nearing the $111K all-time high, with strong selling pressure emerging at this key level. The price continues to struggle in reclaiming this threshold, signaling a likely period of consolidation or corrective movement in the days ahead. Technical Analysis By ShayanMarkets The Daily Chart Bitcoin’s bullish rally toward its all-time high of $111K has shown signs of exhaustion, with the price losing momentum near this key resistance. The inability to...
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