{"id":77860,"date":"2025-07-02T22:00:07","date_gmt":"2025-07-02T22:00:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=77860"},"modified":"2025-07-02T22:00:07","modified_gmt":"2025-07-02T22:00:07","slug":"bitcoin-consolidates-below-resistance-can-it-seal-a-weekly-close-over-107720","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=77860","title":{"rendered":"Bitcoin Consolidates Below Resistance \u2014 Can It Seal A Weekly Close Over $107,720?"},"content":{"rendered":"

Bitcoin is at a pivotal point, and the weekly close could define its next move. To confirm bullish continuation and strengthen market confidence, BTC needs to secure a solid weekly close above<\/a> $107,720.<\/p>\n

Bitcoin Weekly Candle Could Set The Stage For A Run<\/h2>\n

Bitcoin is approaching a make-or-break moment, but if BTC can secure a strong weekly close above $107,720, it could trigger a move toward the $130,000 to $135,000 range in Q3. This key level is acting as a resistance zone<\/a>, and breaking it could unlock a new wave of bullish momentum.<\/p>\n

SatheMeme_Expert revealed<\/a> on X that a similar setup had appeared in Q4 2024, when BTC posted its biggest weekly close of the year. The result was an unstoppable rally<\/a> that shattered resistance and fueled one of the strongest bullish legs of the cycle.<\/p>\n

The weekly chart shows Bitcoin is trading within a well-defined historical parallel channel. As mentioned<\/a> by Pinnacle_Crypto, this channel has previously marked a breakout point in October 2023 and October 2024, which fueled upward moves<\/a>. If this pattern continues, BTC could be on track to reach the $150,916 target in October 2025. The channel provides a roadmap, with key breakouts that signal<\/a> the start of rallies. Alongside, price dips will serve as accumulation zones.<\/p>\n

Crypto analyst Gemxbt also highlighted<\/a> that Bitcoin\u2019s 1-hour chart is currently in a downward trend, but the price is attempting to bounce off a support zone near $106.500. So far, this area is holding firm, providing a foundation for buyers to step in, and technical indicators support this potential shift.<\/p>\n

The Relative Strength Index (RSI) is recovering from oversold levels, hinting that selling momentum is waning, while the Moving Average Convergence Divergence (MACD) indicator is nearing a bullish crossover, which could signal the start of upward momentum. However, for a meaningful reversal to hold, BTC must overcome the critical resistance near $108,500<\/a>. A breakout above with sustained volume will be crucial to confirm the trend and bullish momentum.<\/p>\n

Consolidation Phase Matures \u2014 Breakout May Be Imminent<\/h2>\n

BTC is consolidating inside a descending channel formation on the daily chart, a pattern that typically reflects a phase with a broader trend. Dynamite Trader emphasized<\/a> that BTC is currently trading above the 50-day moving average (MA 50), a technical level that is now solid for the bulls.<\/p>\n

A breakout above the descending channel would mark a shift in sentiment and momentum, potentially triggering a bullish continuation toward the $120,000 region, the next psychosocial target on the macro chart.<\/p>\n

According<\/a> to MiraCrypto, Bitcoin has shown a strong breakout from the descending channel on the 1-day chart, signaling a shift in momentum<\/a>. BTC is now consolidating above the resistance, which has turned into support.<\/p>\n

This consolidation above the breakout levels is a bullish continuation<\/a> signal seen before the next leg higher. MiraCrypto noted that as long as BTC holds this zone, the path remains open for a move toward $135,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin is at a pivotal point, and the weekly close could define its next move. To confirm bullish continuation and strengthen market confidence, BTC needs to secure a solid weekly close above $107,720. Bitcoin Weekly Candle Could Set The Stage For A Run Bitcoin is approaching a make-or-break moment, but if BTC can secure a […]<\/p>\n","protected":false},"author":0,"featured_media":77861,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-77860","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/77860"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=77860"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/77860\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/77861"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=77860"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=77860"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=77860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}