Technical analysis by Trader_Petri about Symbol BTC on 7/16/2025

After checking BTC HTF charts, my take is that there is a resistance around $123K–$125K zone (psychological + measured move extensions). I drew a fib extension in november last year where I pointed out that 108K+ will be ATH Q1 2025 (check my TV post). It hit 110K, so pretty close. The next level was 125K, so that´s pretty close to were we are now (123K). So were are we heading now? I might draw a new fib soon, but I see that monthly is strongly bullish. Stoch RSI is turning up from mid-range, so still has room to run. Volume hasn't spiked dramatically, so a healthy climb without blow-off. 100K looks like a resistance turned into support (also a psychological level). Weekly is bullish with last weeks strong candle managed to breakout from that 110K level (should now be resistance level). Volume is increasing week-over-week the last weeks which confirms breakout strength. I see that if we loose 100K it could be critical (invalidation of bullish BIAS). On daily the Stoch RSI is curling downward from overbought which might imply cooling off = short-term retrace. Price has rallied sharply and is currently pulling back slightly after tagging 123K. A pullback to 110-116K looks likely. It would be healthy and expected.