Bitcoin (BTC/USD) Market with Bearish Signs Emerging from Symmetrical Triangle Break
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Bitcoin Price Prediction – July 31
BTCUSD market with bearish signs emerging from symmetrical triangle break. Bitcoin (BTC/USD) is exhibiting early bearish momentum as price action diverges from its recent consolidation range.
The Relative Strength Index (RSI) has slipped to approximately 48, suggesting weakening buying pressure. Additionally, the price has begun trending below the 9-day simple moving average (SMA), currently positioned at around $117,620, reinforcing the prospect of downside continuation. This technical alignment suggests that short-term control may be shifting toward sellers, especially as volatility compresses within a contracting pattern.
BTC/USD Market Key Levels:
Resistance Levels: $121,000, $125,000, $130,000
Support Levels: $108,390, $115,000, $95,980
BTC/USD – Daily Chart
The BTCUSD daily chart shows an impending crash as the market experiences a structural shift to the downside.
Price action on the daily chart reveals a breakdown from a symmetrical triangle pattern following a marked market structure shift (MSS) beneath $115,700. The bearish breakout from this microstructure block (MB) and the failure to sustain above the $117,500 resistance zone signal a rejection of bullish continuation.
Sellers appear to be stepping in at lower highs, tightening the structure and confirming the distribution phase. The lack of follow-through above $120,000 underscores the exhaustion in buying momentum.
What is the likely projection of BTCUSD?
Looking ahead, BTCUSD appears poised for further retracement toward the $115,000 psychological support. Should this level give way, the next major demand zone rests around $108,390.
If bearish sentiment accelerates, an extended sell-off may expose the $96,000 region as the final line of defense before broader macro support is tested. Until a decisive bullish reversal or volume spike emerges, the prevailing outlook remains tilted to the downside.
BTC/USD – Four-Hour Chart
BTCUSD has broken down from a descending triangle, confirming a bearish continuation below the $115,700 support. Price is now trading around $115,500, with sellers gaining control after a rejection from the 4H order block near $117,500.
The 9-period SMA is sloping downward, and RSI is oversold at 33, reflecting strong bearish momentum. A clean break below $115,000 could open the path toward the $108,400 support zone.
Bitcoin (BTC) Current Statistics
The current price: $115,490
Market Capitalization: $2,290,000,000,000
Trading Volume: $77,930,000,000
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