BTC Daily Chart 114k-120k Range Consolidation, Trend Slightly Up, Avoid Chasing
Brothers, the big coin ultimately did not attempt to break the 120k level and has started to consolidate at relatively high levels. There is no indication of a downward trend here; there are likely quite a few short sellers, and it's still necessary to liquidate some shorts or test their patience. These past two days just happen to be the weekend, with insufficient liquidity and not much volatility!
In terms of price action:
Next, we should pay attention to the big coin's consolidation at relatively high levels. The ideal lower support can be focused on the 113k-114k range. Firstly, 114k is the CME gap left from this wave of market rally. A retracement to this range would be considered within expectations, but it does not imply a downward trend! The downward trend, in my opinion, would require breaking below the previous historical high! On the upside, we are still focusing on the resistance at 120k, with a short-term bullish limit aiming for around 125k. Any higher positions will need to be recalculated!
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BTC Opinion Analysis: July 12, 2025 Daily Chart
