$BTC Bitcoin Navigates Consolidation: Week Ahead Outlook
Bitcoin (BTC) enters the week of July 7th with an air of cautious optimism, hovering above the $109,000 mark after navigating recent market dynamics, including the latest US tariff announcements. This week, BTC's price action will likely be dominated by technical consolidation and reactions to evolving global trade narratives.
Expect Bitcoin to trade within a relatively tight range, potentially between $107,000 and $112,000. Key resistance lies near $113,000, while strong support is anticipated around $105,000. Volume will be crucial; a significant break above resistance on high volume could signal a push towards $115,000. Conversely, a dip below $107,000 might retest lower supports. Traders should watch for any new macroeconomic data or major regulatory news, which could introduce volatility. Overall, a period of stabilization is more probable than a dramatic breakout in either direction.
