This week saw Bitcoin soar past $123K on July 14, fueled by strong institutional flows and positive regulatory news, before settling back around $120K. With growing policy clarity and macro tailwinds, the stage is set for a potential leg higher—or a consolidation before the next breakout.
📊 Market Highlights
- All-Time High: BTC reached $123,153 on July 14 amid “Crypto Week” legislative enthusiasm CF Benchmarks+1Binance+1Cinco Días+8Trading News+8TradingView+8MarketWatch+9ITB Forex Broker+9FOREX24.PRO+9Investopedia+6The Currency analytics+6AInvest+6E24+3Reuters+3Investors.com+3
- Current Consolidation: Now trading near $120K—holding above key support lines
- Spot ETF Inflows: Exceeded $14.8B YTD, outpacing 2024 levels—significant institutional demand
🔹 Key Technical Levels
| Level | Relevance |
|---|---|
| $118.5K–$119K | Short-term support—hold to maintain bullish momentum Omni EkonomiTradingView+4ITB Forex Broker+4FOREX24.PRO+4 |
| $123K–$125K | Near-term resistance—watch for a breakout above $123K |
| Below $118.5K | Could indicate a pullback to $110K if ETF flows retreat |
📈 Institutional & Policy Drivers
- Crypto Legislation: Passage of the GENIUS Act and other bills during Crypto Week has pushed prices higher ETF Database+6Reuters+6Investors.com+6
- Record ETF Demand: Large daily inflows—over $1B/day—anchored BTC’s rally Reuters+1MarketWatch+1
- Corporate Treasury Buys: MicroStrategy added another 4,225 BTC, totaling 601,550 BTC on their balance sheet ETF Database+1en.wikipedia.org+1
🌌 Technical & Astro Insight
- Chart Patterns: BTC broke the neckline (~$118.5K), then formed a consolidation “coil” near $120K, suggesting a bullish setup TradingView+9ITB Forex Broker+9Trading News+9
- Astro-Timing: With Jupiter’s supportive transit and cooling RSI, BTC is in a nuanced bullish phase—watch for fall momentum fueled by cosmic cycles
✅ Trader Takeaways
- Bulls: Watch $123–125K—volume-triggered breakout could awaken the next rally leg
- Bears / Risk-Control: A drop below $118.5K may signal a deeper dip—consider tight stops
- Overall Strategy: Remain nimble—ETF flows are now primary price drivers
🔗 More to Explore
- Spot ETF Inflows & Trends: Insight into July’s $14.8B accumulation Trading Newstimesofindia.indiatimes.com+9AInvest+9Mitrade+9
- Policy Context: Crypto Week overview and its impact on BTC
- Corporate Buys: MicroStrategy’s latest acquisition & broader treasury strategy
Aura Wright is the first psychic and cryptoastrologer in the crypto space. She has an accurate track record, as you can see here: https://www.tradingview.com/u/ to join as a member for detailed predictions, go here: aurawright.media/membership-levels/
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1 comment
Hi, when you say “fall momentum,” do you mean the Autumn season or do you mean a fall in price?
Cheers