{"id":82314,"date":"2025-07-20T15:30:21","date_gmt":"2025-07-20T15:30:21","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=82314"},"modified":"2025-07-20T15:30:21","modified_gmt":"2025-07-20T15:30:21","slug":"bitcoin-price-analysis-btc-unlikely-to-revisit-ath-before-testing-111k-support","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=82314","title":{"rendered":"Bitcoin Price Analysis: BTC Unlikely to Revisit ATH Before Testing $111K Support"},"content":{"rendered":"

Bitcoin\u2019s impulsive bullish leg has paused upon reaching the critical $123K level, signaling potential profit-taking and distribution.<\/p>\n

A corrective move toward the $111K support zone is now expected before the next leg higher.<\/p>\n

Technical Analysis<\/h2>\n

By Shayan<\/p>\n

The Daily Chart<\/h3>\n

After breaking above the previous all-time high at $111K and triggering a notable short squeeze, BTC surged to set a new ATH at $123K, a move underscoring strong market demand and investor confidence.<\/p>\n

However, the upward momentum has temporarily paused at this crucial resistance, resulting in a period of sideways consolidation likely driven by increased sell-side pressure.<\/p>\n

A corrective pullback toward the significant 0.5\u20130.618 Fibonacci retracement zone between $107K and $111K is now anticipated before the next impulsive move. Until then, a period of consolidation appears likely.<\/p>\n

<\/a>Source: TradingView<\/p>\n

The 4-Hour Chart<\/h3>\n

In the lower timeframe, BTC\u2019s consolidation is more pronounced, reflecting ongoing profit realization. What initially resembled a head and shoulders reversal has evolved into a descending wedge, a typically bullish continuation pattern.<\/p>\n

The price continues to trade within this wedge, supported by a key ascending trendline currently positioned around $116K. This trendline has acted as a major support throughout the recent rally.<\/p>\n

As long as the price remains confined between the wedge\u2019s boundaries and this trendline, a consolidation range is in play.<\/p>\n

A break below the line could trigger a deeper correction toward the $111K support. Conversely, a breakout above the wedge\u2019s upper boundary would signal the continuation of the bullish trend, potentially targeting the $123K ATH and beyond.<\/p>\n

<\/a>Source: TradingView<\/p>\n

On-chain Analysis<\/h2>\n

By Shayan<\/p>\n

On-chain data from CryptoQuant indicates a notable increase in Bitcoin reserves on centralized exchanges, reaching their highest level since June 25th. This sustained inflow reflects ongoing profit-taking and distribution by investors, a dynamic that often signals weakening buy-side pressure and hints at a potential corrective phase.<\/p>\n

Historically, rising exchange reserves are associated with local market tops, as more BTC becomes available for potential sale. However, this metric alone should not be seen as a definitive trigger for immediate price drops. Broader market liquidity, sentiment, and demand dynamics remain key.<\/p>\n

In essence, while elevated exchange reserves may introduce short-term selling pressure, the broader market structure for BTC remains bullish. Any corrective pullbacks should be viewed within the context of a still-intact longer-term uptrend, unless macroeconomic or technical conditions shift significantly.<\/p>\n

<\/a>Source: TradingView<\/p>\n

The post Bitcoin Price Analysis: BTC Unlikely to Revisit ATH Before Testing $111K Support<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s impulsive bullish leg has paused upon reaching the critical $123K level, signaling potential profit-taking and distribution. A corrective move toward the $111K support zone is now expected before the next leg higher. Technical Analysis By Shayan The Daily Chart After breaking above the previous all-time high at $111K and triggering a notable short squeeze, […]<\/p>\n","protected":false},"author":0,"featured_media":82315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82314","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\/82314"}],"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=82314"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/82315"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}