๐ As of July 28, 2025, Bitcoinโs weekly chart presents some intriguing signals. The current price hovers around 119,474 USDT, indicating the market is going through a highly volatile period. Letโs dive into what the indicators are telling us.
๐ฅ RSI stands at a high level around 69. This suggests Bitcoin is nearing the overbought zone. Most market participants are on the buy side, which introduces correction risk. Itโs not a clear sell signal yet, but thereโs likely short-term pressure on the price. The upward momentum remains strong overall.
โก ADX is at 28, which reflects a solid trend but not an extremely powerful one. The direction is defined and likely to persist. This means the trend is still in control, without showing signs of weakening.
๐ ROC (Rate of Change) is slightly positive, signaling that the price is trending upwards, albeit with a modest pace. The market reflects a cautious yet steady buying momentum.
๐ OBV (On Balance Volume) is at a high level and continues to rise. This points to a buying trend supported by strong volume. Essentially, price movements are backed by significant trading activity, which reinforces the upward push.
๐ช ATR (Average True Range) reveals high volatility. Rapid price swings remain active, meaning the market continues to carry both risk and opportunity in equal measure.
๐ฎ Price Projections:
Bearish scenario (5.45% probability): A potential dip to 105,007 USDT, with a closing price around 109,302 USDT. This implies a sharp downside risk, albeit with low likelihood.
Bullish scenario (94.55% probability): A more optimistic projection where the dip remains at 116,674 USDT, and the closing price reaches 121,446 USDT. This is the dominant outcome, reflecting a strong upward continuation signal.
โ ๏ธ However, one notable signal is the 1-week negative divergence. This indicates a potential weakness in momentum that could impact the medium-term trend, warranting close monitoring.
โจ In summary, Bitcoin is hovering near resistance with momentum still intact. While RSI warns of overbought conditions, the strong ADX and volume-backed movement support further upside. The high volatility (ATR) signals possible sudden moves in both directions, so caution is advised. The prevailing outlook leans bullish, yet the risk of a steep drop shouldnโt be ignored.
๐ Until the weekly close, the outlook remains positive, but short-term volatility should not be underestimated. Price action is expected to range between 116,000 โ 122,000 USDT, marking strong support and resistance levels.
โ ๏ธ Note: This analysis does not constitute investment advice. It is purely based on technical data and you should conduct your own research before making trading decisions.
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