Bitcoin Faces Crucial Test at $0.00001175 Resistance

Bitcoin is currently at a pivotal moment as it approaches a diagonal resistance level on its daily chart. This resistance line has historically acted as a significant barrier during price rallies, and a successful breakout above this level could signal the start of a strong rally. A daily close above the diagonal resistance, followed by a retest from above, would confirm the breakout and potentially set the stage for a broader bullish movement in the crypto market.

The retest is a crucial aspect of this potential breakout. After Bitcoin breaks above the resistance, it needs to come back down and test the line from above. If it holds as support during this retest, it confirms the breakout and indicates that the previous resistance has turned into support. This pattern is a classic signal used by technical analysts to identify a shift in market trend in favor of the bulls.

If Bitcoin successfully completes this breakout and retest pattern, it could trigger a wave of buying, leading to a sharp increase in price. Historically, such patterns in Bitcoin’s price have preceded strong rallies. While no pattern guarantees future results, the current setup has garnered significant attention from traders and analysts, marking this moment as one to watch closely.

Analysts have predicted that if this resistance is breached, Bitcoin could see an expected gain ranging from 190% to 200%+. The key resistance level for Bitcoin is currently at $0.1835, which is today's high. A close above this level could ignite a rally toward the $0.20-$0.22 range. This breakout would be significant as it would indicate a shift in market sentiment, potentially leading to a sustained upward trend.

However, the price action has been rejected below the diagonal trendline and remains range-bound between $0.00001108 and $0.00001175. The breakdown structure on the higher timeframes shows a Break of Structure (BOS) confirming seller dominance, although the price is now hovering just above a liquidity pocket and weak low near $0.00001050. If bulls reclaim $0.00001175, a leg toward the $0.00001225 and $0.00001263 resistance zones becomes likely. However, failure to hold $0.00001100 opens downside risk back to the demand block between $0.00001000 and $0.00000950.

The RSI (14) on the daily chart remains bearish at 38.92, reflecting continued downside momentum. The 4H RSI hovers around 42–44, indicating weak buyer response despite shallow rebounds. Bulls will want to see a move above 50 to confirm any bullish reversal. MACD (12, 26) on both 1D and 4H timeframes is flat, with the MACD line near zero and histogram showing minimal momentum. This points to market indecision, but also suggests latent potential for a volatility-driven move.

Bollinger Bands are tightening across the 4H and daily charts, particularly around the $0.00001120 midline. Price is currently testing the lower band, which coincides with S4 support ($0.00001108). A bounce from this zone could initiate a reversion to the mean near $0.00001150, while a breakdown may lead to a volatility expansion toward the S5 region at $0.00001028. EMA clusters are still acting as dynamic resistance. On the 4H chart, the 20 EMA at $0.00001142 is pressing down on price, while the 50/100/200 EMAs on the 1D chart remain above $0.00001200, reinforcing the bearish pressure.

In July 2025, Bitcoin is poised for either a final flush or a sharp bounce. If the $0.00001100–$0.00001080 support area holds, the price could consolidate before breaking toward $0.00001175. A daily close above this pivot could unlock a recovery to $0.00001225 and potentially $0.00001263. However, a sustained failure to defend $0.00001100 would likely trigger a drop toward the $0.00001000 psychological level, with follow-through toward $0.00000950 if liquidity below gets swept. The key to July’s trend direction lies in how Bitcoin behaves between the $0.00001100 and $0.00001175 range early in the month.

Bitcoin has a chance to reach $0.00001250 in July, but it hinges on reclaiming and holding the $0.00001175 pivot resistance. If bulls can close above that level with follow-through volume, Fibonacci resistance at $0.00001225 and the liquidity zone near $0.00001263 become realistic short-term targets. For this move to materialize, broader crypto sentiment—especially from Bitcoin—must remain neutral to bullish. If Bitcoin breaks below $100K, risk assets like SHIB may struggle and fail to clear resistance zones. On the flip side, a clean break below $0.00001080 could delay any bullish targets, with downside acceleration likely toward $0.00001000 or lower.