이 기사 공유하기
Bitcoin Remains On Hunt for $7K Despite Price Pullback
Bitcoin retains the short-term bullish bias despite the pullback from the 11-day highs.
작성자 Omkar Godbole
Bitcoin has pulled back from an 11-day high, but the short-term outlook remains bullish, the technical studies indicate.
The leading cryptocurrency looked overbought yesterday, as per short-duration indicators, having rallied to $6,681 on Bitfinex on Monday - the highest level since June 22.
STORY CONTINUES BELOW
Consequently, BTC fell back to $6,414 earlier today and was last seen trading at $6,530 - down 2.2 percent on a 24-hour basis.
Clearly, the bullish momentum has waned in the last 24 hours, still, the technical charts are biased to the bulls. Further, the probability of BTC rallying to $7,000 (psychological hurdle) remains high while prices are holding above the former resistance-turned-support of $6,341, as seen in the chart below.
4-hour chart
BTC breached the double bottom neckline resistance of $6,341 on Saturday, confirming a short-term bullish reversal and opening doors to $6,927 (target as per the measured height method). Further, it built a nice base (marked by a circle) around $6,341 before staging a high volume rally to $6,681 on Sunday.
Clearly, $6,341 is a strong support and only a break below that level would weaken the bull case.
Currently, BTC is trading well above the neckline support and is looking northwards as indicated by the double bottom breakout and bull flag breakout.
Daily chart
The falling channel breakout and the bullish crossover between the 5-day and 10-day moving average (MA) indicate the rally from the June 24 low of $6,755 is likely to continue in the days ahead.
On the way higher, BTC may encounter resistance at (June 19 high), $6,880 (upper Bollinger Band), $7,067 (50-day MA).
View
- Bitcoin is seen rising to $7,000 in the short-term and could rally further if its move toward the psychological hurdle is backed by a sharp rise in the daily trading volume.
- A break below $6,341 (former resistance-turned-support) would weaken the bull case. However, only a daily close below $6,275 (Monday's low) would abort the bullish view.
- A daily close below $5,755 (June 24 low) would signal a revival of the sell-off from the May high of $9,990 and would shift risk in favor of a drop to $5,400 (November 12 low).
Sniper scope via Shutterstock
More For You
알아야 할 것:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Bitcoin gets 'base case' price target of $143,000 at Citigroup
The Wall Street bank said its bitcoin forecast relies on further crypto ETF inflows and a continued rally in traditional equity markets.
알아야 할 것:
- Citigroup's base case for bitcoin (BTC) is a rise to $143,000 in 12 months.
- Analysts highlight $70,000 as key support, with the potential for a sharp rise due to revived ETF demand and positive market forecasts.
- The bear case sees bitcoin falling to $78,500 amid a global recession, while the bull case predicts a rise to $189,000 due to increased investor demand.
Top Stories
