Bitcoin Technical Analysis: Market Outlook on July 8, 2025

Technical analysis of Bitcoin on July 8, 2025, exploring support/resistance levels, indicators, and trends.

On July 8, 2025, Bitcoin is trading at approximately $108,520, consolidating after significant gains in recent months. This technical analysis explores key support and resistance levels, common indicators, and price patterns to provide insight into the market’s next move. Support and Resistance Levels Bitcoin’s key resistance zone lies between $110,000 and $111,000, a level that has repeatedly capped upward moves in recent weeks. A breakout above this zone could signal strong buyer momentum, targeting $114,000 next. On the downside, the primary support sits at $106,000, acting as a robust psychological and technical level. A break below this could see prices slide to $100,000, a significant demand zone. Indicator Analysis The Relative Strength Index (RSI) on the daily timeframe stands at 60, indicating bullish momentum but nearing overbought territory. This suggests a potential risk of a price pullback. The 50-day moving average (MA50) at around $105,000 serves as dynamic support, while the 200-day moving average (MA200) at $98,000 reinforces the long-term bullish trend. The MACD indicator shows a mild bullish signal, though a slight decline in momentum on the signal line hints at possible short-term weakness. Trading volume has remained steady, but a spike during key level breakouts would confirm trend continuation. Price Patterns On the 4-hour timeframe, Bitcoin has formed an ascending channel, with the price currently trading near the channel’s midline. This pattern suggests a continuation of the uptrend with periodic pullbacks. Additionally, a symmetrical triangle is forming on the daily chart, typically leading to a strong move in the direction of the breakout. Traders should monitor the breakout direction closely. Possible Scenarios Bullish Scenario: A high-volume breakout above $110,000 could propel Bitcoin toward $114,000. This scenario gains traction with indicator confirmation and rising demand. Bearish Scenario: A drop below $106,000 may trigger a correction to $100,000, especially if trading volume declines and indicators weaken. Conclusion Bitcoin is at a critical juncture, and traders must closely monitor key levels. Despite a broadly bullish trend supported by indicators and patterns, the strong resistance at $110,000 poses a short-term risk of correction. Strict risk management and patience for confirmed breakouts are essential for successful trading.