$BTC Consolidates After Pullback from $112K – Key Levels in Focus
Bitcoin has retraced into the $107,000–$108,500 range after briefly touching highs near $112,000. Consolidation is currently taking place, and as long as it holds above $105K, the next breakout could aim for $115K or higher. 🚀
📊 Key Technical Zones:
Support:
• Around $105,500 (aligned with the 20-day EMA)
• Broader support sits between $103,700–$105,500, which has held firm previously
Resistance:
• Short-term resistance at $110K–$112K — Clearing this level could open the door to higher targets
• Next major resistance lies at $114K, with upside potential to $115K–$120K if momentum strengthens
⚖️ Market Context:
Bitcoin is currently ranging between $100K–$110K, constrained by a descending trendline and key exponential moving averages (EMAs)
On-chain data indicates some selling from long-term holders, but this is being offset by steady ETF inflows from institutions
Historically, July sees average gains of around 8%, and with June closing at a record high, there’s room for further upside
📈 Trade Scenarios:
Bullish Case:
Holding above $105K and breaking through $110K–$112K could trigger a rally toward $115K–$120K, with strong momentum pushing as high as $140K–$150K
Bearish Case:
A drop below $105K (and especially under $104K) could test $100K — a key psychological level — and potentially push prices even lower
🧭 In Summary:
Bitcoin is consolidating after a strong run-up in late June. Holding the $105K–$108K zone favours the bulls. A confirmed breakout above $112K could lead to a move toward $115K+, but failure to hold support risks a retest of the $100K level. Keep a close eye on these levels!
