Bitcoin (BTC) Price Prediction for July 8

After a strong rebound from the $102,000 region last week, the Bitcoin price today is trading around $109,100, consolidating just below the $110,000 barrier. BTC is currently compressing within a symmetrical triangle on the daily chart, while 4H structure remains bullish above the $107,000 short-term support. Derivatives funding has turned slightly positive, suggesting cautious optimism among longs ahead of a potential breakout.

What’s Happening With Bitcoin’s Price?

The daily chart shows BTC continuing to respect a well-formed symmetrical triangle structure. Bulls have defended the $105,000–$106,000 zone multiple times since late June, and the latest bounce carried price back to the upper diagonal resistance around $110,000. This resistance is overlapping with horizontal supply, making it a tough level to crack.

BTC price dynamics (Source: TradingView)

The 4H Supertrend has flipped bullish above $107,270, while candles continue to close above the short-term ascending trendline that began forming from the June low. Until BTC closes above $110,000 or below $107,000, the structure remains in compression, setting the stage for a larger directional move.

Why Is the Bitcoin Price Going Down or Up Today?

BTC price dynamics (Source: TradingView)

The question why Bitcoin price going down today or up hinges largely on weakening momentum and mixed signals across timeframes. On the 30-min chart, MACD has started to flatten after a recent bullish cross, and histogram bars are shrinking, indicating reduced momentum. Meanwhile, RSI remains neutral at 56.5, offering no immediate divergence but also no confirmation of trend continuation.

BTC price dynamics (Source: TradingView)

On the 4H chart, BTC is facing rejection near the upper Bollinger Band ($109.5K), while the VWAP has flipped to resistance around $109.4K, just above current market price. This is capping intraday upside. Moreover, Parabolic SAR dots have now flipped above price, suggesting short-term trend exhaustion.

BTC Derivative Analysis (Source: Coinglass)

However, the funding rate has turned slightly positive, and open interest has grown by over 3%, hinting that aggressive shorts may face pressure if BTC breaks above the triangle.

Compression Builds as BTC Price Stalls Below $110K

BTC price dynamics (Source: TradingView)

Several indicators signal that Bitcoin price volatility could expand soon. On the 4H chart, Bollinger Bands are beginning to squeeze again, while price rides the mid-band. This typically precedes breakout moves.

The EMA ribbon is showing alignment: the 20/50/100/200 EMAs are stacked between $108,500 and $106,200, now acting as dynamic support. If BTC holds above this zone, bulls retain structural control. The Directional Movement Index (DMI) shows a modest bullish bias, with +DI (24.65) above -DI (13.64), although the ADX remains weak below 20, suggesting trend strength has not fully returned.

BTC price dynamics (Source: TradingView)

From a smart money perspective, the latest CHoCH and liquidity sweep on the daily chart between $102,500 and $105,000 suggest bears failed to gain control. The current push higher targets the weak high around $110,500.

Bitcoin Price Prediction: Short-Term Outlook (24h)

BTC price dynamics (Source: TradingView)

Bitcoin’s price structure remains in a tightening range, but the bullish defense of $107,000 and repeated supply zone taps around $110,000 imply growing breakout pressure. If BTC can close above $110,500, it could open a run toward $113,500–$115,000. On the downside, a failure to hold $107,000 would put $105,000 and $102,500 back into play.

Given the low volatility and mixed indicators, BTC is likely to remain range-bound within $107,000 to $110,500 in the near term. Traders should monitor volume spikes and triangle breaks closely.

Bitcoin Price Forecast Table: July 8, 2025