Step-by-Step Bitcoin Technical Analysis (as of 2025-07-10)

1. Trend Analysis

Long-Term Trend (April–July 2025)

• Strong Uptrend: BTC has moved from ~$83,000 (April 12th) to $113,615 (July 10th), a ~36% surge.
• April–Mid-May: Volatile sideways, $83,000–$97,000, then breakout in late April.
• Mid-May–June: Steep uptrend to $111,000+, intermittent corrections—bullish consolidations.

Medium-/Short-Term Trend

• June–Early July: Higher highs/lows ($100,000 to $113,000 zone). Recent weeks: Steadily climbing steep slope, sharper rallies post-July 2nd.
• Current Price Action: Strong surge July 9–10, $108,900 → $113,600, breaking all resistance levels; momentum is accelerating.

2. Volume Profile

• Volume peaks align with major breakout days (April 21-22: $87k→$93.4k / May 8: $97k→$103k / July 9-10: $108.9k→$113.6k).
• Past 24 hours: Massive uptick in volume. This surge, combined with price breakout, indicates both institutional and retail participation—a hallmark of sustainable trends.

3. Chart Patterns & Price Structure

• Ascending Triangle (June): Resistance at $110,000, support rising from $100,000–$108,000. Breakout confirmed July 9th.
• Bull Flag (Late June): Brief consolidation $107k–$109k, followed by high-momentum breakout (July 2–9).
• Double-Impulse Rally (July 9-10): Strong consecutive green candles, little retracement.

4. Support & Resistance Analysis

• Major Support: $110,000 (former resistance, now support), $108,000, $104,000, psychological $100,000
• Major Resistance: Currently null (ATH territory), short-term zone at $114,000 (measured move/round number), then further $117,000+ (projected).

5. RSI & Momentum Oscillators (Estimated Based on Price Action)

• RSI (Daily/Hourly, Estimate): Likely >75 (overbought but valid in strong uptrends).
• Stochastic: Top end, could warn of temporary overextension but not reversal.
• MACD: Strongly positive, MACD line far above signal, no bearish divergence.

6. Moving Averages (Based on Data)

• 20-50-100 Day EMA/SMA: All stacked bullishly; price far above 20 and 50MA, confirming momentum.

7. Fibonacci Extension/Projections

• 100% Move (Apr lows to May highs):
  • 0%: $83k / 100%: $104k → Projected 161.8%: $117,000.
• Near-term: $114,000 is round number/target; $116,000–$117,000 likely in sight.

8. Volatility & ATR

• ATR (Average True Range, Estimated):
  • Recent daily ranges $1,500–$3,000; today’s range $2,700+. This supports rapid price spikes, short-term moves of $2,000 moved in a single day.

9. Sentiment & Order Flow (Inferred)

• FOMO evident: Parabolic leg, little retracement, masses likely entering.
• No signs of distribution: No long upper wicks/failed rallies.

10. Multi-Timeframe Confluence

• Weekly: Largest green candles since April; no overhead resistance.
• Daily: Consecutive bullish closes, strong volume.
• Hourly: No significant selling.

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Synthesis & Forward Projection

• Breakout from consolidation and ATHs forms extremely bullish backdrop.
• Parabolic phase risk: Chasing high entries is risky, but history suggests these trends can continue for multiple sessions before sharp corrections.
• Potential for blow-off top soon, but not yet present—no reversal patterns, volume suggests initial breakout phase.
• Short-term pullbacks (~$1,000 drop) possible on such strong rallies, but current order flow likely absorbs dips quickly.

Entry & Exit Levels

• Optimal Buy (Long) Entry: Pullbacks toward $112,800–$113,000 (prior high/mini-support on breakout), but entering at $113,600 for strong momentum continuation is also justifiable (with stops below $112,000). Risk higher volatility and pullback, but trend remains intact.
• Take-Profit/Exit: Major targets $115,800–$117,000 (measured move + Fibo extension), or at first reversal hourly close below $113,000 if market turns.

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Final Decision

• Bias: STRONG BUY (LONG). This is a textbook breakout+volume surge, with all major technical signals aligned to the upside. Momentum is dominant; the risk is only in very short-term pullbacks. No significant selling detected. Buying the next $500–$1,000 dip is prudent, but current price is an aggressive entry point as well.

Summary: Bitcoin just completed a high-volume, all-time-high breakout with no immediate resistance. Next 24h: high probability of price appreciation towards $116,000–$117,000, with only minor risk of corrections. Optimal entry at or near current $113,600; target $116,000; re-evaluate if support at $112,000 is lost.