๐ As of July 29, 2025, let's dive into a detailed technical analysis of Bitcoin on the daily timeframe. The current price hovers around 118,806 USDT, showing a recovery trend since the daily open with notable intraday volatility. Letโs explore what the indicators reveal:
๐ RSI (Relative Strength Index) is at 61, suggesting that Bitcoin is neither in overbought nor oversold territory. This indicates mildly bullish momentum, hinting that prices could continue to rise moderately. The fact that RSI hasn't reached extreme levels implies a reduced risk of a sharp decline in the short term.
๐ฏ ADX (Average Directional Index) stands at 26, pointing to a moderate trend strength. This implies that thereโs a clear trend in play, but not strong enough to expect aggressive moves. A steady uptrend is present, but without high volatility bursts.
โก ROC (Rate of Change) is giving a positive signal, indicating that prices are undergoing a modest upward shift. This suggests that the momentum is gaining slight strength.
๐ OBV (On-Balance Volume) remains elevated, meaning that buying volume outweighs selling volume, even during small downward moves. This shows that buyers are still dominant, and thereโs no significant selling pressure yet.
๐ช๏ธ ATR (Average True Range) is at 2660, highlighting significant market volatility. It suggests that large price swings are possible and should not come as a surprise.
๐ In terms of bearish divergences, there are no short-term signals (1-day and 3-day), which is positive. However, a weekly divergence has been detected, warning of a potential medium-term pullback. Caution is advised.
๐ When it comes to forecast scenarios, two main possibilities stand out:
Base scenario with 92.3% probability predicts a closing price around 117,964, within the 117,330โ119,701 range. This aligns with a sideways-to-slightly-bearish sentiment, reflecting a neutral or indecisive market mood.
Optimistic scenario with 7.66% probability sees a surge towards a 124,226 peak, with a closing price near 122,424. This would indicate a strong bullish breakout and accelerating momentum.
๐ In summary, Bitcoin is currently in a stable upward trend, supported by moderate momentum and buying volume. Yet, weekly bearish divergence and average volatility suggest that a pullback remains a risk. The more likely path for today seems to be sideways movement with mild fluctuations.
๐ This analysis is not financial advice. Always conduct your own research before making investment decisions. Bitcoin is a highly volatile asset, and caution is essential.
Stay sharp and invest wisely! #bitcoin #BTC #Crypto #TechnicalAnalysis ๐๐๐