🚀$BTC on the Edge of a Breakout?
Current price: ~$118,300, consolidating in a narrow range (mid‑July 2025 data) .
Support zones:
Minor: $116,000
Major: $115,500 down to $109,000, with critical floor around $115K .
Resistance zones:
Immediate: ~$119,500–$120K
Upper targets: $125K–$130K, and potential long‑term pivot toward $136K–$137K if breakout holds .
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📉 Technical setup & sentiment:
Bitcoin recently formed a cup‑and‑handle chart pattern, a bullish signal that could pave the way for a rally toward $134K+—according to technician Katie Stockton .
Meanwhile, a 2.9% drop pushed $BTC down to $115,150–$115,544, reinforcing the importance of the $115K support zone . Analysts emphasize BTC’s struggle to stay above the psychological $120K level .
The consolidation between $115K and $123K, combined with on‑chain accumulation and technical momentum, supports a potential move toward $135–146K in coming weeks .
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📊 Trade Strategy (if you're considering Spot or Futures):
Scenario Setup & Levels
🔄 Range Trade Buy near $115–116K support, target resistance around $119–120K. Place a tight stop slightly below $115K.
🚀 Breakout Trade If BTC closes above $120K, consider adding to position toward $125–130K, with risk set below $119K support.
🎯 Bullish Extension Following a confirmed breakout past $123K, targets could stretch to $134K–146K (cup‑and‑handle target or chart‑measured move). Maintain trailing stop for risk control.