Current market outlook for BTC.
On July 5th, it retraced to $107,000, a definite confirmation of channel retracement.
From the perspective of Chan Theory, this retracement is textbook 'buy point' one, two, and three.
In simple terms, $107,000 is an excellent entry point.
The MACD indicator is also strong, with a golden cross above the zero line on the 4-hour chart, indicating bullish momentum; the overall market sentiment feels like it's gearing up to move upwards.
From the perspective of order flow.
The retracement on July 5th suggests that institutions have likely completed 'price recovery', meaning they have brought back some costs around $107,000. Now, the liquidity pool above is mainly concentrated at over $110,000, potentially reaching as high as $130,000. What does this indicate? If Bitcoin can stabilize at $110,000 without major news interference, breaking through $110,000 to $130,000 is not a dream. Do you think the institutions are holding back a big move?
However, the market isn’t just about technicals; the news front must also be monitored closely.
U.S. stocks will reopen tonight (July 7th) after the Independence Day break, and capital flow may suddenly increase.
The opening of U.S. stocks tonight could preemptively react to some macro risks, such as tariff expectations or economic data falling short of expectations. If U.S. stocks really crash, the crypto market will likely shake too. So, for those looking to go long, stay up late tonight, monitor the market, and don’t get caught off guard.
In terms of key levels, the upper level at $110,000 is a resistance point; if broken, we look at $130,000; the lower level at $107,000 is a support point; if breached, we may have to wait a bit longer. Just keep an eye on these two points, and that should be enough. Overall, Bitcoin looks bullish right now, but be cautious of U.S. stock movements tonight, and don’t dive in without considering the risks.
