BTC/USD quotes are trading at the level of 108016 and continue to move within the growth development and bullish channel. Moving averages indicate the presence of a short-term uptrend on Bitcoin. Prices broke through the area between the signal lines upwards, which indicates the pressure from the buyers of Digital Gold and the potential continuation of the development of the bullish impulse of the asset value already from the current levels. As part of the cryptocurrency rate forecast for tomorrow July 8, 2025, we should expect an attempt to develop the decline in the value of the digital asset and test the support level near the area of 103405. From where we should again expect an upward bounce and an attempt to continue the decline of Bitcoin rate with a target above the 123505 area.
Bitcoin Forecast and BTC/USD Analysis for July 8, 2025
An additional signal in favor of BTC/USD quotes growth will be a test of the support line on the relative strength indicator. The second signal in favor of this option will be a rebound from the lower boundary of the bullish channel. A fall in the value of the asset and a breakdown of the 101305 area will cancel the variant of the rise of the coin and Bitcoin value. This will indicate the breakdown of the support area and the continuation of the Bitcoin rate decline with a potential target at the level of 85605. The confirmation of the growth of the asset price will be the breakdown of the resistance area with the consolidation of the price above 114565.
Bitcoin Forecast and BTCUSD Analysis for July 8, 2025 suggests an attempt to test the support level near the 103405 area. And further, continuation of the cryptocurrency’s growth with a potential target at 123505. An additional signal in favor of Bitcoin rate rise will be a test of the support line on the relative strength indicator. Cancellation of the growth option of the digital currency will be the breakdown of the area of 101305. This will indicate the continuation of the coin’s decline with a potential target below 85605.
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