Bitcoin Technical Analysis on July 10, 2025: Market Outlook

Technical analysis of Bitcoin on July 10, 2025, covering resistance, support, and indicators.

As of July 10, 2025, Bitcoin is trading at approximately $110,922, consolidating in the short term while maintaining a long-term bullish trend. This technical analysis examines the current market state, key resistance and support zones, and major indicators. Price Trend and Market Structure Analysis After reaching an all-time high of $111,906 on May 22, 2025, Bitcoin has entered a consolidation phase, fluctuating between $106,000 and $112,000. This price action suggests accumulation for the next major move. Daily and 4-hour charts show bullish patterns, such as higher lows, indicating sustained buying pressure. However, strong resistance between $110,000 and $112,000 has prevented a breakout above the recent high. Resistance and Support Zones The key resistance zone lies between $110,000 and $112,000, which has rejected the price multiple times. A breakout above this zone with high trading volume (over 30% above the 20-day average) could push Bitcoin toward $120,000. On the support side, $106,000 has acted as a strong demand zone, with $100,000 serving as a critical psychological support level. These levels could prevent further declines if the price pulls back. Technical Indicators The RSI on the daily timeframe is between 60 and 65, indicating a neutral to bullish state. This suggests room for upward movement without being overbought. The MACD has crossed above the signal line, signaling bullish momentum. However, declining trading volume in recent days indicates trader caution. Price Pattern Analysis Bitcoin’s daily chart shows an ascending channel, with the price approaching the upper resistance line. A high-volume breakout could trigger a new bullish wave. From an Elliott Wave perspective, Bitcoin may be in the third wave of a larger bullish cycle, potentially leading to significant gains. Risks and Scenarios Bullish Scenario: If Bitcoin holds the $106,000 support and breaks the $112,000 resistance, it could target $120,000 and potentially $144,000 by September 2025. Bearish Scenario: A break below $106,000 could lead to a drop to $100,000, signaling a deeper correction. Conclusion Bitcoin remains in a long-term bullish trend but requires a break above $112,000 to sustain upward momentum in the short term. Traders should monitor volume and price action at key levels. Holding the $106,000 support is crucial for the bullish outlook.