Bitcoin Holds Above $108,000 Amid Bullish Uptrend

Bitcoin's price action on July 7, 2025, was characterized by a narrow trading range between $107,942 and $109,717, as bulls and bears tested key levels near the $110,000 resistance. The cryptocurrency maintained a market cap of $2.16 trillion and daily volume exceeding $19.6 billion, with the price stabilizing at $108,831. This price action indicated both strength and hesitation, with bulls aiming to break through the $110,000 resistance and bears looking to push the price back down.

On the daily chart, Bitcoin has been riding an uptrend since mid-June, when it rose from lows of approximately $98,240. The formation of bullish engulfing candles and rising volume reinforced positive sentiment, aligning with a double-bottom formation at the June low. Key moving averages, including the exponential moving average (EMA) and simple moving average (SMA) across 10, 20, and 30 periods, all indicated buy signals, solidifying the bullish outlook. However, traders were closely monitoring the $105,000–$106,000 pullback zone for potential long entries, as a failure to hold this support could weaken the current setup. Exit strategies remained focused on the $110,000–$110,500 zone, which had been tested but not yet breached.

On the 4-hour chart, Bitcoin showed a clear uptrend from $105,130 to $110,557 before entering a consolidation zone between $108,000 and $109,000. This range-bound activity since July 4 suggested either accumulation or distribution near resistance. Volume had tapered off during this phase, indicating market indecision. A breakout above $110,000 backed by strong volume would likely extend the rally, while a failure to hold $107,800 could invalidate the short-term bullish bias. Traders eyeing breakout entries may consider reclaiming $109,200 with accompanying volume as a strategic point for reentry.

The 1-hour BTC/USD chart revealed a tight consolidation between $108,500 and $109,700, with price holding above short-term support at $107,858. Volume had declined considerably, pointing toward a potential volatility squeeze scenario. In such setups, breakouts tend to be sharp; a move above $109,700 with increased volume could present a scalp opportunity toward $110,200. Conversely, a breakdown below $108,000 would serve as a short-term stop-loss trigger for intraday positions. Despite the micro-trend neutrality, the structure supported cautious optimism with strict risk management.

Among oscillators, the relative strength index (RSI), Stochastic, commodity channel index (CCI), average directional index (ADX), and Awesome oscillator all registered neutral signals, highlighting a balanced momentum environment. The momentum oscillator showed a sell indication, suggesting weakening thrust in price direction. However, the moving average convergence divergence (MACD) indicator showed a bullish signal, in line with the prevailing upward price trend. The divergence in oscillator readings signaled the possibility of range-bound behavior before the next directional move was confirmed.

From a broader strategy perspective, traders were advised to watch for volume-backed breakouts above $110,000 while respecting the downside invalidation levels across all timeframes. The macro bias remained bullish, supported by consistently positive moving averages across 50-, 100-, and 200-period EMAs and SMAs. However, the failure to pierce $110,500 after multiple attempts could set the stage for a double-top formation, providing short-term bearish traders with opportunities. Market participants should remain vigilant, with clear entry and exit signals tied closely to structural levels and volume patterns.

The current technical setup favored the bulls, with Bitcoin holding above key moving averages and showing consistent support across multiple timeframes. A confirmed breakout above $110,000, backed by rising volume, could catalyze further upside toward new yearly highs. However, despite the upward momentum, Bitcoin faced persistent resistance near $110,500, and declining volume suggested waning buying pressure. Failure to break this ceiling, combined with potential bearish formations like a double-top, could prompt a retracement toward the $104,500–$105,000 support range.