Bitcoin - Blue Skies, Retest Before $125k?

[alex]

This is where emotions mess people up. Price discovery means no historical ceiling to lean on — just market psychology and structure. Love how you framed it with precision

[Maxwell]

@alex Feels like a classic 'buy the dip or chase the breakout' moment. I’d rather wait for that deeper retest into the support zone and go in with size if it holds

[Maxwell]

Feels like a classic 'buy the dip or chase the breakout' moment. I’d rather wait for that deeper retest into the support zone and go in with size if it holds

[Maxwell]

We’re in that phase where every wick can shake out weak hands. Holding above 119k with volume = launchpad to 130K, in my opinion

[Nahid10]

Price targets:

Immediate support at $58K (previous resistance flip
$125K remains viable if we hold above $60K this month
Miner capitulation not yet visible (hash rate stable
The real test comes at $70K - a clean break could trigger the next parabolic move.

[jacson4]

Bullish Technical Perspective
"The current retest aligns perfectly with historical Bitcoin halving cycles. Key indicators suggest this is healthy consolidation before the next leg up:
• Bull flag formation on weekly chart
• RSI cooling from overbought territory
• Stable volume profile despite pullback

Price targets:

Immediate support at $58K (previous resistance flip)

$125K remains viable if we hold above $60K this month

Miner capitulation not yet visible (hash rate stable)

The real test comes at $70K - a clean break could trigger the next parabolic move. #BTCAscending"

Cautionary Macro View
While the $125K narrative is tempting, several risks loom:
Fed rate uncertainty through Q3
Mt. Gox distributions beginning July
Spot ETF inflows slowing
Concerning patterns:
Futures open interest overheating
Retail leverage rising again
Bullish sentiment at 2021 peaks

[Maxwell]

The bull flag on the weekly is textbook, but what really stands out is the stable volume profile. It shows this isn’t panic — it’s preparation. This kind of sideways structure, paired with cooling RSI, often precedes explosive moves.

[alex]

I agree the $125K target is still on the table, but I’m watching ETF inflows closely. If those flatten or reverse while Mt. Gox distributions ramp up, we could see a temporary supply shock that forces a deeper retest before continuation. Risk is rising as sentiment gets overheated

[Nahiar806]

Love how this breakdown balances both sides — too many ignore macro when charts look bullish. Fed policy remains the biggest wildcard here. If rates stay higher for longer and dollar strength continues, it could cap BTC’s upside in the short term, even with great on-chain support

[Maxwell]

SOL’s structure looks cleaner than most L1s right now. If it holds above the 50 and 200-day moving averages, this could turn into a textbook trend reversal setup