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21.07.2025 08:17 AM
Trading Signals for BITCOIN for July 21-25 2025: sell below $119,00 (6/8 Murray - 21 SMA)

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Bitcoin is consolidating around $119,000 after reaching its all-time high around $123,200 last week.

On the H4 chart, we can see that Bitcoin is trading within a bearish trend channel formed on July 13 and is likely to reach the 6/8 Murray zone around 118,750 or the top of the bearish trend channel around $119,000 in the coming hours.

If the Bitcoin price encounters strong resistance below $119,000, it is likely to resume its bearish cycle, and we could expect it to reach the 200 EMA located around 112,148 or the 4/8 Murray zone located at 112,500 in the short term.

On the other hand, if the Bitcoin price consolidates above $119,000, it is likely that it could reach 7/8 Murray at 121,878 in the short term and even reach its all-time high around $123,000.

Technically, a strong technical correction is expected in the coming days to $112,000 or the psychological level of $110,000. Therefore, we will look for opportunities to sell below 6/8 Murray.

Dimitrios Zappas,
Analytical expert of InstaForex
© 2007-2025
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