#BTC110kToday?
đ¨Bitcoin Update: July Outlook and Strategy
Bitcoin is currently trading at $107,848.95, after hitting Mayâs all-time high of $111,980 and closing June strong at $107,167. Technical signals remain positive:
RSI: 55 (healthy range)
MACD: Bullish crossover
Support: $105,000
Resistance: $109,500 and $112,000
July Trends & Potential
Historically, July has been a good month for Bitcoin, with average gains of 7.56% and positive returns in 8 out of the last 12 years.
đKey Drivers
đ¸Experts forecast Bitcoin could reach $116,000 by July and even $200,000 within six months.
đ¸The mining sectorâs market cap grew 23% in June, now worth $28 billion.
đ¸Regulatory developments are becoming more favorable.
đ¸Juneâs record closing supports continued upward momentum.
đ¸Strong buying activity: 1069.33 BTC traded on July 1.
đ¸Long/short ratio sits at 39.58, reflecting solid sentiment.
đTrading Strategy
Buy on dips below $105,000.
Watch the $108,000 support carefully.
Be ready for tests of $109,500 and $112,000 resistance.
Consider taking profits near $116,000 in July.
Keep stop-losses below the 50-day EMA at $104,000 to protect against pullbacks.
Bitcoinâs seasonal strength and strong technicals suggest a promising setup this month.