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Bitcoin News Update: Tightening BTC Range Signals Potential New Price Breakthrough

小编 Media reports 2025-07-29 82 View

As bulls buy into minor pullbacks while driving up Bitcoin's average daily trading price, the trading range of Bitcoin has narrowed.

 

 

Key points:

 

Bitcoin found support at $107,245, indicating that investor sentiment remains positive, with every minor decline being bought up.

Bitcoin is attempting to rebound from the moving average, suggesting buying on dips. Although the price is slightly below the all-time high of $111,980, it has not yet entered the overvalued zone. CryptoQuant contributor Axel Adler Jr. posted on X that the Mayer Multiple stands at 1.1x, "in the neutral range (0.8–1.5x)."

Can Bitcoin break through its all-time high and resume its upward trend? Let's

analyze the charts to find out.

 

 

Bitcoin Price Prediction

 

Bitcoin is squeezed between the 20-day Exponential Moving Average (EMA) ($107,314) and the upper resistance level of $110,530.

 

 

                                                                                      Chart. Source: Cointelegraph/TradingView

 

 

The rising 20-day EMA and the Relative Strength Index (RSI) being in positive territory indicate that the breakout is likely to be upward. If the resistance at $110,530 is breached, the BTC/USDT pair may challenge the all-time high of $111,980, followed by the neckline of the inverse head-and-shoulders pattern.
  
Sellers are expected to fiercely defend the neckline, as a breakout would complete the bullish setup. This would open the door to a potential rally to the pattern target of $150,000.

 

This optimistic view would be invalidated in the short term if the price declines and breaks below the 50-day Simple Moving Average (SMA) at $106,642. This could诱使 short-term buyers to take profits, pulling the pair down to $104,500 and then to $100,000.

 

                                                                            BTC/USDT 4-hour chart. Source: Cointelegraph/TradingView

 

The pair found support at $107,245, indicating that every minor decline is being bought up. If buyers push the price above the descending trend line, the forming descending channel pattern will be invalidated. The failure of the bearish pattern increases the likelihood of a breakout above $110,530. If this happens, the pair may climb to $111,980, followed by $113,500.

 

Conversely, if the price drops and breaks below $107,245, the bearish setup will be completed. This could pull the pair down to the pattern target of $103,960.

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