$BTC Price Analysis and Outlook
BTC has continued its strong upward trend recently. Today (July 7), after a significant rally, bullish momentum is strong, trading volume has notably increased, the trendline support is solid, and the moving averages are aligned bullishly, further confirming the upward signal. The price has broken out of the consolidation zone, and the short-term upward trend is likely to continue, with the upward trendline and MA7 providing good support.
Future Trend Prediction:
- Target 111,000: BTC is likely to reach 110,000, but may face a final wave of downward washout.
- If it breaks through the July 3 high of 110,530, forming a guiding wedge, the decline will be shallow, with a target of around 103,000.
- If it does not break the high, the decline will be deeper, with a target of around 100,000.
- Resistance Range (109,677.9—110,205.7): Need to pay attention to whether the volume continues to increase to support the upward movement.
- Short Position Setup: Around 112,000 is a key resistance level, suitable for setting up short positions in the short term, in line with the expectation of a downward washout, targeting 103,000 or 100,000.
- Medium to Long-term Long Position: It is recommended to wait for the downward washout to end before setting up medium to long-term long positions around 103,000 or 100,000.
If it breaks above the trendline, the structure may change, and reassessment will be needed. Keep a close eye on key support/resistance levels and volume changes, and operate cautiously!