Technical analysis by biodunoladokun about Symbol BTC on 7/23/2025

Bitcoin has largely traded sideways on the daily chart since reaching its all-time high of $122,054 on July 14. The current range is defined by a resistance level around $120,000 and a support floor around $116,000 With demand gradually weakening, BTC risks a breakdown below the current support. A close below $116,000 could open the path toward $114,000, marking a deeper short-term correction. On the upside, renewed buying pressure could push BTC above the $120,000 resistance. A successful breakout may set the stage for another retest of the all-time high and potentially new highs if momentum follows through.