Bitcoin Drops Below $108,890 Resistance, Faces Potential Crash

Generated by AI AgentCoin World
Tuesday, Jul 1, 2025 3:10 pm ET1min read
BTC
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Crypto analyst Rekt Capital has issued a warning about a potential crash in the

Bitcoin
price, following the cryptocurrency's closure below a critical resistance level. The analyst also pointed out the level that Bitcoin needs to reclaim to negate this bearish scenario.

In a post, Rekt Capital revealed that the Bitcoin price closed below the final major weekly resistance at approximately $108,890. Consequently, he suggested that a potential early-stage Lower High resistance might be forming around $107,720, putting Bitcoin at risk of a crash. The analyst further noted that Bitcoin would need to reclaim $108,890 as support on the daily chart to invalidate this Lower High.

Earlier, Rekt Capital emphasized the significance of the Bitcoin price closing above this final major weekly resistance. He noted that such a weekly close had never occurred before. If it had happened the previous week, he claimed it would have been "historic" and would have enabled Bitcoin to enter a new uptrend, reaching new all-time highs.

Currently, the Bitcoin price appears to be in a downtrend, failing to maintain its position above the $107,720 level. Bitcoin reached an intraday high of $107,970 but has since declined and is now at risk of losing the $106,800 macro level. Crypto analyst Kevin Capital warned that Bitcoin being below this level places it in a danger zone.

Despite the recent drop in the Bitcoin price, crypto analyst Titan of Crypto asserted that the flagship cryptocurrency still has potential for growth. He stated that the weekly market structure remains robust, characterized by a series of higher highs and higher lows. The analyst also mentioned that the Relative Strength Index (RSI) is approaching its trendline.

According to Titan of Crypto's accompanying chart, the Bitcoin price could rally to as high as $140,000 between September and November this year, based on the observed higher highs and lows. Additionally, crypto analyst Stockmoney Lizards recently predicted that Bitcoin could reach as high as $145,000 by September, citing bullish dojis that had formed within the cryptocurrency's current corrective channel.

At the time of writing, the Bitcoin price is trading around $106,800, experiencing a decline over the past 24 hours.