Bitcoin Surges 10% in Three Days, Eyes $108,900 Resistance

Analyst Credible has shared his outlook on Bitcoin's potential breakout from its current consolidation zone, predicting a resumption of its bullish trajectory. According to his analysis, Bitcoin is forming a classic setup consistent with Elliott Wave theory, which examines investor sentiment cycles to forecast price movements. Credible believes that Bitcoin is currently stabilizing just under resistance and may continue to trade within a compressed range for several more weeks. While a short-term rally above $110,000 is possible, he anticipates that BTC is more likely to dip back toward $100,000 before gaining enough momentum for a sustained breakout.

Credible emphasizes that a period of low volatility and tighter consolidation could serve as a launchpad for a much larger upward expansion. This could potentially set the stage for new all-time highs as July draws to a close. Beyond Bitcoin, Credible is also bullish on the broader altcoin market. Despite concerns about capital availability for major altcoin rallies, he argues that crypto remains a small player in the vast ocean of global liquidity. He points out that similar doubts were raised before Bitcoin surged past $100,000.

With Bitcoin’s structure intact and momentum building, market watchers are closely monitoring key support and resistance zones. If current patterns hold, July could mark the start of the next big phase in the bull cycle. Bitcoin's price has recently surged, reaching nearly $107,378, closely following the S&P 500 index, which hit a record high of 6,223.75 on June 28, 2025. This parallel movement underscores a strong correlation between the cryptocurrency market and traditional equity markets, indicating a shared investor interest in risk assets. The ascent of Bitcoin towards its all-time high coincides with the S&P 500's new peak, suggesting that investors are increasingly bullish on both markets. This trend is not new; historical data shows that Bitcoin's price spikes often align with major U.S. equity rallies, reflecting a close tie between risk appetite and cryptocurrency performance.

Despite the significant price movements, central figures in the cryptocurrency industry have not issued public statements regarding the $107K Bitcoin price level. The lack of official statements from industry leaders leaves the market to speculate on the underlying factors driving this surge. Crypto-related companies have seen their share prices increase as Bitcoin's value has risen. This bullish market sentiment mirrors past trends during major U.S. equity rallies, where investor confidence in one market often spills over into another.

Market participants are advised to monitor potential outcomes in financial policies, as regulatory changes could influence cryptocurrency dynamics. Historical correlations support the expectation of continued investor interest in Bitcoin during strong equity cycles, suggesting that the current trend may persist. Analysts predict that Bitcoin could reach a new peak as early as July, with $108,900 identified as the final significant resistance standing in the way of a record-setting breakout. This prediction is based on Bitcoin’s ongoing upward trend and its ability to absorb nearby liquidity levels, typically a signal of building momentum. Should the current pattern hold, the market is expected to push past this ceiling within the next couple of weeks, sparking a new all-time high sometime in July.

The broader crypto market is also poised for a rally, particularly if Bitcoin triggers widespread short squeezes. These forced buybacks by traders betting against the market can amplify upward momentum, erasing prior losses across the altcoin space in a matter of days. The current environment is described as "bulls in control," with technical models indicating potential upside targets for Bitcoin, provided it can maintain its traction above certain levels. The path to new all-time highs for Bitcoin remains open, with on-chain data indicating lower realized profits and technical indicators suggesting a continuation. However, macroeconomic uncertainty remains a headwind, and any increase in global volatility could bring in safe-haven flows into crypto assets. Traders are closely watching key levels, as a close above certain resistance points could signal a quick move to higher targets, while a failure to do so could result in a pullback to key support zones.

The current rally in Bitcoin has been driven by a combination of short liquidation, technical breakouts, and easing geopolitical tensions. The cryptocurrency is up nearly 10% in just three days, with traders widely anticipating the move past key resistance levels. The breach of these levels has forced aggressive short positions to unwind, effectively clearing the path for a potential breakout toward higher resistance levels. From a charting perspective, the Bitcoin price prediction appears bullish after forming a three-bar bullish pattern, indicating strong buyer commitment. However, price action is stalling just below a long-standing descending trendline, suggesting that certain levels remain critical inflection points. Support levels and resistance targets have been identified, with the MACD status indicating a bullish crossover but histogram momentum flattening. A candlestick signal of a spinning top forming under the trendline indicates potential hesitation. If Bitcoin closes above key levels with high volume, a quick move to higher targets could be seen. If not, a short-term pullback to key support zones is possible.

The macro outlook remains uncertain, with geopolitical risk evolving from a short-term hedge to a long-term assumption. Market sentiment has shifted back to Eastern Europe as tensions between NATO and Russia escalate. The S&P 500 and Nasdaq experienced a slight bounce, but macroeconomic uncertainty remains a headwind. For Bitcoin, any increase in global volatility could bring in safe-haven flows into crypto assets. However, Bitcoin’s structure remains bullish, with the path to new all-time highs remaining open if key levels hold.