Technical analysis by xfzzhs2tbj about Symbol BTC on 7/2/2025

Here's my updated chart for Bitcoin (BTC/USD) on the daily timeframe. The price action is currently testing a key zone that could define whether we're heading into the next major leg up, or facing another rejection.Pattern Breakdown:- BTC is respecting a bull flag formation after a strong impulse leg earlier this year.- The $105K level has held as critical support, keeping the bull flag structure intact.- Price is currently pressing against descending resistance (~$107K) with tightening consolidation indicating an imminent breakout decision.Key Levels to Watch:Support:$105K – holding this level keeps bullish momentum valid.$101.6K (Bollinger midline)$100.4K (EMA 100) – must hold for macro trend to stay intact.Resistance (before $112K):$107K – major descending trendline resistance.$110.1K – upper Bollinger Band and recent local high.$112.45K – key breakout level from the flag. A daily close above this could trigger a sharp rally.Indicators:MACD is forming a bullish crossover but lacks strong momentum, watch for a green histogram to confirm.RSI at ~51 gives BTC room to run, not in overbought territory.Volume is low, but coiling tight near the apex could spark volatility.Conclusion:BTC is at a critical decision point. A clean breakout above $107K, followed by sustained momentum through $110K–$112K, would significantly raise the probability of a confirmed bull flag breakout, with a potential move toward $120K+.However, the $105K level is a key support that must hold to keep this structure intact.If we see a daily close below $105K, attention shifts to the $101K level (Bollinger Band midline + 53 SMA).A close below $101K would invalidate the bull flag entirely, turning this setup into a potential bull trap, and shifting short-term bias bearish.All eyes are on the $107K–$112K resistance zone for confirmation—or breakdown signals if support levels give way.