🎉 #Gate Alpha 3rd Points Carnival & ES Launchpool# Joint Promotion Task is Now Live!
Total Prize Pool: 1,250 $ES
This campaign aims to promote the Eclipse ($ES) Launchpool and Alpha Phase 11: $ES Special Event.
📄 For details, please refer to:
Launchpool Announcement: https://www.gate.com/zh/announcements/article/46134
Alpha Phase 11 Announcement: https://www.gate.com/zh/announcements/article/46137
🧩 [Task Details]
Create content around the Launchpool and Alpha Phase 11 campaign and include a screenshot of your participation.
📸 [How to Participate]
1️⃣ Post with the hashtag #Gate Alpha 3rd
Follow Bitcoin Prices: Will BTC Soon Experience a Sudden Rise in July?
Bitcoin is trading at $106,537 on July 1, 2025, with a market capitalization of $2.11 trillion and a 24-hour trading volume of $21.87 billion. This digital asset has fluctuated within a narrow range during the day from $106,544 to $107,938 as technical indicators suggest a mixed but cautious market environment. The BTC/USD 1-hour chart shows a clear downtrend originating from the recent peak of 108,800 đô la, marked by lower highs and consistently lower lows. Volume confirms the trend, with increased selling activity on red candles, indicating persistent downward pressure. Traders are watching for weak recoveries during the day between $107,500 and $108,000 as potential short entry points, while viewing $106,000 as a short-term support level for exit strategies. The gradual decline is not characterized by panic selling but signals a steady distribution. Unless momentum indicators change significantly, the short-term outlook remains bearish.
On the 4-hour chart, bitcoin appears to be confined within a range after failing to maintain a breakout above $108,800. Support has formed around $106,300, but the overall structure shows hesitation, evidenced by smaller candles and decreasing volume after the breakout. This cooling-off period may last unless momentum improves significantly. Entry opportunities for speculators may arise near the $106,000 mark, with profit-taking likely capped at resistance around $108,000. A break below support will lead to a new bearish target below $105,000.
The daily chart of Bitcoin describes a broader consolidation phase after the rally peaked near $110,789, followed by a pullback to a recent low of $98,240. The recovery from that level indicates buying interest, but sellers continue to emerge near $108,000. A bearish engulfing pattern has developed, signaling potential downside risk ahead if momentum cannot reclaim resistance above. Traders are watching for entries in the $102,000–$103,000 range while keeping an eye on exits around $108,000–$110,000. A decisive break below $98,000 could accelerate selling pressure.
The oscillation indicators show a neutral to mixed picture. The Relative Strength Index (RSI) is at 52, signaling a balanced state, while the stochastic %K (14, 3, 3) is at 86, indicating an overbought condition with a sell signal. The Commodity Channel Index (CCI) is at 58 and the Average Directional Index (ADX) is at 12, both suggesting a neutral state. Meanwhile, the momentum indicator is at 4.462 and the MACD (12, 26) is at 557, indicating remaining bullish sentiment. This contrast highlights the market's hesitation, favoring short-term trades over directional bets. The moving average (MA) supports a cautiously bullish long-term stance despite short-term weakness. The exponential moving average (EMA) for 10 periods at $106.607 signals a sell, while the simple moving average (SMA) for 10 periods at $106.367 signals a buy. All longer-term moving averages—including EMA and SMA for 20, 30, 50, 100, and 200 periods—signal a buy, reflecting ongoing strength in the broader trend. These averages serve as dynamic support levels that could limit bearish moves if Bitcoin weakens further. Overall, the convergence of short-term bearish action and long-term bullish structure indicates tactical flexibility for traders. Bull's Assessment If Bitcoin holds the support level of $106,000 and buyers return around the $102,000–$103,000 range, the long-term bullish trend supported by rising moving averages could continue. A breakout above $108,000 may pave the way for a retest of $110,000 and eventually $111,000, reinforcing the clear bullish structure on higher time frames. Bear's Opinion If the support level of $106,000 cannot be maintained, technical indicators suggest a high likelihood of a drop to the range of $103,000–$100,000. Continuous selling pressure, confirmed by the weakness of the oscillators and the daily bearish structure, could accelerate the decline, especially if the $98,000 level is breached, invalidating bullish setups for Bitcoin in the near term.