Technical analysis by ScottMelker about Symbol BTC on 7/8/2025

Bitcoin continues to hold strong just below resistance at $112K after a clean reclaim of the $105,787 support zone and the 50-day moving average. Price is consolidating in a tight range, printing higher lows and showing signs of strength as it flirts with a potential breakout.Volume has tapered off slightly during this sideways action, which is typical in a coiling pattern before a move. If bulls can finally push through $112K with conviction, we’re likely headed for a fresh leg higher. On the flip side, a drop back below the 50 MA and $105K would invalidate the short-term bullish structure.Until then, it’s just a waiting game inside this range – but the bias leans bullish.