Bitcoin Wave Analysis – 16 July 2025

Bitcoin: ⬆️ Buy

– Bitcoin reversed from a support area

– Likely to rise to resistance level 122770.00

Bitcoin cryptocurrency recently reversed up from the support area located between the key support level 115000.00 and the support trendline of the daily up channel from June.

This support area was further strengthened by the 38.2% Fibonacci correction of the sharp upward impulse from July.

Given the clear daily uptrend and the strongly bullish sentiment seen across cryptocurrency markets today, Bitcoin cryptocurrency can be expected to rise to the next resistance level 122770.00 (top of the previous impulse wave i).

Source: https://fxpro.news