Market outlook for July 17!



As of July 17, 2025, the price of Bitcoin fluctuates around $119,300, up 0.5% from yesterday's closing price. Currently, Bitcoin has stabilized at the key support level of $118,000, rebounding approximately 3.1% from the low on the 16th. The midline of the Bollinger Bands has moved up, the RSI indicator has rebounded from the oversold area, and the MACD histogram is contracting, indicating a technical correction is needed.

From the perspective of driving factors, the voting results of the cryptocurrency bill supported by Trump are yet to be revealed. If passed, it will boost confidence; if it fails, it may trigger selling pressure. Institutional holdings are resilient, with substantial holdings in the Bitcoin ETF under BlackRock, but there is a risk that short-term funds may lock in profits due to fluctuations from the voting results.

The strong resistance level above is at $123,300, while the key support level below is at $115,250 #btc
BTC-0,02%
TRUMP-4,73%
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