BTC Market Technical Analysis – 18 July 2025

Today's Trend Overview
Market Overview
Bitcoin is currently trading around $118,813, holding near intraday lows after testing highs above $120,700. The cryptocurrency is now consolidating within a range, digesting recent gains and awaiting direction.
Trend & Price Action
BTC has rebounded from the $118,400–$118,500 support zone multiple times today, indicating short-term stability.
In the short term, the trend is neutral to slightly bullish, as price remains near the upper end of a recent hold zone.
On the mid‑term daily chart, BTC is trending upwards, within a larger ascending channel that began in early July.
For the long term, the uptrend remains intact, with clear higher highs and higher lows since April.
Technical Indicators
The RSI is around 45, reflecting neutral momentum with room to build.
MACD recently showed a bullish crossover but is flattening, suggesting momentum may be stabilizing.
On trading software, moving averages indicate mixed signals:
Shorter MA periods (5‑ to 50‑day) lean sell,
Longer-term averages (100- and 200-day) remain buy, showing longer trend strength.
Chart Structure & Patterns
On the daily timeframe, BTC remains inside a clear ascending channel that started around $108,000–$110,000.
On a 4-hour chart, a potential head and shoulders is forming, with a neckline near $117,000–$116,500. A breakdown under this neckline could signal a deeper pullback.
Miner outflows suggest distribution near recent highs, hinting at a need for a consolidation or correction before continuation.
Trading Strategies
Bullish Setup
Entry: $118,600–$119,000 on bounce from support
Targets: $120,700 → $122,800 → $125,000
Stop loss: Below $118,400
Cautious / Bearish Setup
Entry: Break and close below $118,000
Targets: $116,000 → $115,600
Stop loss: Above $118,600
Final Summary
Bitcoin is consolidating within its established upward channel. Key levels to watch are support at $118,400–$118,500 and resistance at $120,700–$120,800. A breakout above that resistance could lead to a retest of all-time highs near $123,000. On the downside, a break under $118,000 may trigger a deeper retracement toward $116,000–$115,600. Traders should focus on momentum shifts and volume confirmation when initiating trades.
Stay disciplined, track price behavior around these pivots, and manage risk carefully.
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