Here is a more precise and detailed analysis that clarifies the market and conveys the idea to your mind effortlessly.
After the retest of Bitcoin's price $BTC
After briefly reaching $107,500, it faced pressure today near $106,970, as bulls struggle to maintain their momentum. The weakness in breaking above the key Fibonacci area and ongoing resistance near $108,000 has limited upward attempts. The structure remains generally bullish, but exhaustion indicators are increasing.
What is happening to the price of Bitcoin $BTC ?
BTC price dynamics
The daily chart shows the price stability of #البيتكوين below the resistance range between $108,000 and $110,500, which aligns with Fibonacci retracement levels of 0.786 and 1.0. The price remains above the Fibonacci support level of 0.618 at $105,889, keeping Bitcoin's price in a neutral to bullish position currently.
BTC price dynamics
Bitcoin's price ($BTC ) remains above the bullish market support range ($94,993 - $97,388), with the trend still leaning towards buyers in the broader outlook. However, momentum has sharply slowed over the past five sessions, and recent candles have shown small bodies and long upper wicks, indicating weakness in the bullish trend.
BTC Liquidation chart
The liquidation chart shows more than $9.6 million in long positions cleared on July 1, with short positions returning across all exchanges. This imbalance indicates increasing caution among optimists as a new session begins.
Why is the price of Bitcoin dropping today?
BTC price dynamics
A combination of indicator rejections and liquidity dynamics explains why Bitcoin's price #BTC is dropping today. The four-hour chart reflects a major rejection of the resistance range between $107,500 and $108,400, which includes the upper Bollinger Band and the 20-50 exponential moving average range. The failure to break through this area has allowed bears to temporarily regain control.
BTC price dynamics
The Super Trend indicator flipped to a bearish trend on the four-hour chart at $106,450, coinciding with the reappearance of Parabolic SAR points above the price. This convergence of these two indicators indicates increasing bearish pressure.
BTC price dynamics
Meanwhile, the Ichimoku cloud indicator (30 minutes) shows Bitcoin trading below the Tenkan and Kijun lines, inside the cloud - a typical signal of indecision and short-term stagnation. The relative strength index (RSI) for Stochastic shows a bearish crossover from the overbought area, indicating a decline in momentum in the current timeframe.
Bitcoin's structure #Bitcoin❗ remains steady, but pressure signals loom.
BTC price dynamics
Despite the rejection, Bitcoin's price remains within a broader bullish structure. The four-hour chart shows Bitcoin making higher lows since its lowest point on June 24 near $101,900. The internal ascending trend line remains intact, and it is expected to reach $106,000 if the current pressure continues.
On the daily timeframe, Bitcoin remains supported above a key demand zone near $105,000, which corresponds to both the Fibonacci level of 0.618 and the breakout retest area from June 21. This range has historically absorbed bearish pressure, but repeated failures to break the $108,000 level increase the risk of a deeper retest.
Bollinger Bands are narrowing on the four-hour chart, which typically precedes an expansion of volatility. Given Bitcoin's structure, a breakout may occur as early as July 2, likely determining its direction with a daily close above $108,500 or below $105,500.
Bitcoin Price Forecast: Short-term Outlook (24 hours)
BTC price dynamics
The Bitcoin price update indicates it is preparing for a decisive move. If bulls reclaim the $107,500 level with a significant breakout, the next targets could be $110,500 and $118,000, which are Fibonacci extensions of 1.0 and 1.618, respectively.
On the downside, failure to hold above the $105,500 level could expose the $103,200 level, then $101,250, which are the Fibonacci levels of 0.382 and 0.236. A daily close below $105,000 would invalidate the current short-term bullish bias.
With trend signals flattening, traders should focus on the pivot range between $105,500 and $107,500 for confirmation.
Bitcoin Price Forecast Table: July 2, 2025
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