BTCUSD: BUY 110400, SL 108800, TP 120000 | 09 July 2025

The struggle near Bitcoin’s all-time high continues. Sellers are still managing to hold back the pressure from buyers, but the bulls show no signs of giving up. The current situation is at a tipping point: a sharp upward breakout would signal the beginning of wave [iii] in an impulsive rally, while a drop would suggest a further complex development of corrective wave [ii]. For this reason, entering trades at current levels is not recommended. Long positions should be opened after a confirmed breakout above 110400, while short trades could be considered if the price falls below 105000. The bullish scenario remains the more likely one and is therefore considered the primary scenario. Investment idea: BUY 110400, SL 108800, TP 120000.