Bitcoin Technical Analysis: July 12, 2025

Technical analysis of Bitcoin on July 12, 2025, exploring key support/resistance levels and indicators.

The technical analysis of Bitcoin on July 12, 2025, suggests a dynamic market with short-term bullish potential but a likelihood of retracement to support levels. Based on market data, Bitcoin’s current price is approximately $117,804, reflecting a slight 0.02% decline over the past 24 hours. This price is near a significant resistance zone around $120,000, which has repeatedly blocked further upward movement. On the 4-hour timeframe, Bitcoin exhibits a bullish continuation pattern, indicating potential for further upside. However, a liquidity grab zone near $120,000 could trigger stop-loss orders and lead to a temporary pullback. The Relative Strength Index (RSI) is currently at 68, signaling bullish momentum but not yet in overbought territory (above 70). This suggests room for growth, though traders should watch for divergence signals. Key support levels are located between $106,000 and $108,000, which could act as a price floor during a correction. This zone aligns with a Fair Value Gap (FVG), making it an attractive entry point for buyers. Conversely, if Bitcoin breaks the $120,000 resistance with strong trading volume, the next target could be $130,000. The MACD indicator also shows a bullish signal, with the MACD line above the signal line. However, declining trading volume in recent days may indicate waning momentum. Traders should monitor volume and macroeconomic news, such as Federal Reserve decisions on interest rates, as these can significantly impact the crypto market. From a price pattern perspective, a bullish flag is forming, which could signal a continuation of the uptrend. Traders should wait for confirmation of a breakout to avoid potential price traps. Risk management using stop-loss orders below key support levels, such as $106,000, is highly recommended. Overall, Bitcoin appears bullish in the short term, but traders should prepare for a possible pullback to $106,000. Continuous monitoring of indicators and price levels will aid in better decision-making.