Bitcoin (BTC) Price Prediction for July 5

After briefly breaking out of a multi-week symmetrical triangle, the Bitcoin price today is trading around $109,000, down 0.5% on the day. The breakout attempt stalled just below $110,600, a level that aligns with key Fibonacci and supply resistance. While the broader structure remains bullish, intraday indicators are showing divergence and early signs of short-term exhaustion.

What’s Happening With Bitcoin’s Price?

On the daily chart, Bitcoin price recently breached the descending triangle resistance near $108,000, which had capped upside since early June. The breakout was clean but met heavy supply pressure just under $111,000. The move still keeps BTC above the key trendline, suggesting structural strength. However, candles are now consolidating at the edge of the breakout zone, indicating indecision.

The rejection near $110,590 corresponds with the 0.0 Fibonacci level from the latest 1H swing, while the 0.236 retracement near $109,299 is currently acting as short-term resistance. A sustained move above this level is required to maintain upward pressure.

The broader a…

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