Bitcoin (BTC) Price Prediction for July 24
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Bitcoin is trading around $118,700 as of July 23, consolidating after breaking out of a textbook inverse head and shoulders pattern visible on the daily chart. The neckline break above $112,000 was confirmed last week, and price has since pushed to a local high of $120,180 before stalling. Traders are now assessing whether BTC can maintain its bullish structure amid tightening intraday price action.
What’s Happening With Bitcoin’s Price?
On the daily chart, Bitcoin price has completed a multi-month inverse head and shoulders reversal structure, with the neckline breakout occurring near $112,000. The clean push above this level marked a bullish shift in macro sentiment and opened the door for trend continuation. Price is currently consolidating above the neckline retest zone, suggesting healthy digestion of recent gains.
Meanwhile, the 4-hour chart shows Bitcoin compressing within a symmetrical triangle. The upper resistance trendline is capping upside near $119,200, while the support base extends to around $116,000. This narrowing structure signals an impending volatility e…
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