‎Bitcoin Consolidates Below $111,500 as Bullish Breakout Looms

‎BTCUSD Market Analysis- July 5

Bitcoin consolidates beneath the $111,500 resistance level as technical signals point toward an impending bullish breakout.

‎Bitcoin (BTCUSD) Key Levels

Support Levels: $100,600.00, $92,800.00
‎Resistance Levels: $111,500.00, $119,800.00

‎‎Bitcoin Long-Term Trend: Bullish

Following the major low formed in April 2025, Bitcoin has seen a strong and steady bullish progression with minimal retracements. This upward momentum extended all the way to the $111,500 supply level, where price action encountered a significant pause. The stall at this key resistance level has led to a period of consolidation.
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‎Currently, Bitcoin is ranging between the $111,500 supply zone and the $100,600 demand level. Within this consolidation phase, a notable reverse head and shoulders pattern has emerged—a classic bullish reversal structure. The presence of this pattern suggests a potential breakout to the upside, signaling the continuation of the broader bullish trend.
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‎Further supporting the bullish outlook, the daily Moving Average currently lies below the price, reflecting sustained upward momentum. In addition, the Relative Strength Index (RSI) on the daily chart shows rising strength, indicating that bullish pressure is building as price tests the upper boundary of the range near $111,500.‎

‎BTCUSD Medium-Term Trend: Bullish

‎On the medium-term (4-hour) chart, a bullish break of structure has already occurred, further confirming the reverse head and shoulders formation observed on the daily timeframe. This dual-timeframe alignment strengthens the bullish case for Bitcoin’s next move.
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‎Despite the short-term bearish leg recently observed, the 4-hour RSI shows a temporary decline in price strength. This current dip is interpreted as a healthy retracement rather than a trend reversal. Notably, price is approaching a significant 4-hour bullish order block—an area likely to act as a launch point for the next bullish impulse once triggered.

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