Technical analysis of BTC/USD 07/11/2025

Technical Analysis BTC/USD (1D):

On the daily timeframe, an inverse head and shoulders pattern has formed — a classic bullish reversal setup. The neckline is located around 118000, and the recent breakout above this level confirms the pattern’s completion, suggesting the continuation of the uptrend.

The projected target, based on the height from the head to the neckline, is approximately 30,000 points, which points to a potential move toward the 147500 area — a major resistance zone.

Support is now found near 118000 (the broken neckline), followed by 106500 and 94500, where the 100-day and 200-day moving averages are located, reinforcing the long-term bullish outlook.

The RSI is at 71.1, indicating overbought conditions, which may lead to a short-term pullback. However, the overall structure remains bullish, and as long as the price holds above 118000, the next leg toward 147500 remains in focus.

Created by Joshua Hayn