Technical analysis by Nova-Scalper about Symbol BTC: Buy recommendation (7/7/2025)

💎 BTC PLAN UPDATE FOR THE BEGINNING OF THE WEEK (07/07)NOTABLE BITCOIN NEWS: Focus on 4 key points today 1. Elon Musk – “America Party” to Support BitcoinElon Musk has confirmed that his newly formed political party, the “America Party,” will support Bitcoin, stating that “fiat is hopeless.” 2. Cup-and-Handle Pattern Analysis: Targeting $230KAccording to technical analysis by Cointelegraph, BTC is forming a “cup and handle” pattern on the monthly chart, which could lead to a target peak of $230,000 if a breakout continues. 3. BTC Price Holds Steady Around $109K Amid “Crypto Week” and Trade TensionsBitcoin is currently trading around $109,000, influenced by “Crypto Week” and concerns over U.S. tariffs. 4. Institutional Inflows Increase, But Market Demand WeakensAccording to CoinDesk, institutional investors are still buying BTC, but not enough to offset declining demand in the spot market, negatively affecting short-term market sentiment.⸻TECHNICAL ANALYSIS PERSPECTIVEThe short-term trend remains bullish. However, the steep slope of the trend indicates buying pressure is still being contested and unstable.BTC remains stuck at Fibonacci levels—pay close attention to the resistance zones at 112K and 115K. If these two resistance levels are broken, investors may get the answer to whether BTC can approach the 120K level.In the short term, both gold and BTC are moving sideways, indicating that market liquidity and investor capital are unstable and being divided across multiple portfolios.==> This analysis is for reference only. Wishing all investors successful trading!