Bitcoin Price Analysis: Is Bitcoin Due for a Reset Before Its Next Breakout??
2025-07-18 12:30:51
Main Idea
Bitcoin has experienced a significant uptrend, breaking through key resistance levels, but a potential correction may be needed before further gains.
Key Points
1. Bitcoin broke above the $108K–$110K resistance zone, reaching as high as $123K, with potential to target $140K.
2. The 50-day and 100-day moving averages around $100K provide strong dynamic support, keeping bulls in control if the price holds above $108K.
3. A potential rebound zone lies between $112K and $111K, corresponding to the 0.618–0.786 retracement levels.
4. The Miners Position Index has spiked, indicating increased miner outflows to exchanges, which could impact market dynamics.
5. A break below the neckline around $117K–$116K with volume could accelerate a bearish drop as trapped longs exit.
Description
Bitcoin has seen a significant uptrend in recent weeks, climbing steadily within its ascending channel and recently hitting a new all-time high at around $123,000. However, signs of buyer exhaustion and potential distribution are starting to surface. From price action patterns to miner behavior and funding sentiment, the market seems to be entering a sensitive inflection point where a correction may be needed before the next leg up. Let’s break it down from the top. By ShayanMarkets The Daily Ch...
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