Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnSquareMore
Bitcoin (BTC) Bulls Gear Up for the Next Bull Market Surge

Bitcoin (BTC) Bulls Gear Up for the Next Bull Market Surge

CryptodailyCryptodaily2025/07/17 16:00
By:Laurie Dunn

The Bitcoin bulls have perhaps found a decent platform at $118,000 from which to launch their next upward surge. However, before this next rocketship takes off, there could be more sideways price action. Investors will probably need to remain patient.

Crypto bills passed up to the Senate

The crypto story continues to gain momentum in the US as three landmark bills gained approval in the House this week. The GENIUS Act , CLARITY Act , and CBDC Anti-Surveillance State Act were all passed on to the Senate for consideration.

If these bills do make it into law this will firm up the case for crypto in the most powerful country in the world - quite a rapid turnaround from the bleak and unyielding anti-crypto stance presented by the Biden administration.

While the CLARITY Act will help to provide consumer protection and clear regulatory guidelines for businesses, and the GENIUS Act will promote the setting up of regulation for stablecoins, arguably the most impactful bill is the Anti-CBDC Surveillance State Act. 

Anti-CBDC Act the most important

CBCD’s (Central Bank Digital Currencies) have generally been kept on the down-low in mainstream media for quite some time, and it’s only in recent times that the likes of European Commission President Ursula von der Leyen, and others, have felt emboldened enough to announce the future implementation of CBDCs. 

This programmable digital currency would allow central banks to wield far more power over citizens than they already have, allowing them to manipulate, confiscate, and sanction bank accounts at will.

$BTC retests support

Bitcoin (BTC) Bulls Gear Up for the Next Bull Market Surge image 0

Source: TradingView

Meanwhile, Bitcoin continues on into the latter stages of its bull market. As can be seen in the short-term time frame, the price broke out of the relatively short downtrend but the bulls were unable to maintain momentum and the price is falling back down.

The trendline is about to be tested again, and possibly the horizontal support at $118,000. If this gives way and the bears are able to confirm the breakdown, $117,000 down to $116,000 would be a possible net waiting to catch the price. Falling below that would mean a collapse back down to $112,000.

That said, as things stand, this looks as though it may just be a retest of support. As has been the case for quite some time now, the trend is up, and if in doubt, go with that trend.

$BTC volatility increase

Bitcoin (BTC) Bulls Gear Up for the Next Bull Market Surge image 1

Source: TradingView

The daily chart shows a lot of volatility since $BTC crossed above $118,000. The candle wicks to the up and to the downside are evidence of the struggle going on among the bulls and the bears. This support level is continuing to hold, but as already mentioned, a collapse, or even just a wick back down to $112,000 could still be on the cards.

At the bottom of the chart, the Relative Strength Index (RSI) which signals overbought and oversold conditions, is key to further price appreciation. The indicator has already been well into the overbought zone, but it still did not get above the last peak at 78.29.

The indicator will probably need to bounce off of the yellow moving average and head higher to take out that last peak, if this doesn’t happen, bearish divergence is still in play.

Weekly Stochastic RSI indicators approach a top again

Bitcoin (BTC) Bulls Gear Up for the Next Bull Market Surge image 2

Source: TradingView

The weekly time frame reveals that generally all is well with the Bitcoin bull market. That said, the Stochastic RSI indicator lines are approaching the top again. There could be two or three weeks left in them yet, and there’s always the chance that they could move along the top for quite some time. However, when they get this high it is best to keep an eye open for any other potential topping signals. 

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

The article analyzes the TGE performance of multiple blockchain projects, evaluating project performance using three dimensions: current price versus all-time high, time span, and liquidity-to-market cap ratio. Projects are then categorized into five grades: S, A, B, C, and D. Summary generated by Mars AI This summary was generated by the Mars AI model, and the accuracy and completeness of its content are still being iteratively updated.

MarsBit2025/11/28 16:26
2025 TGE Survival Ranking: Who Will Rise to the Top and Who Will Fall? Complete Grading of 30+ New Tokens, AVICI Dominates S+

Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

Russian households have invested 3.7 billion rubles in cryptocurrency derivatives, mainly dominated by a few large players. INTERPOL has listed cryptocurrency fraud as a global threat. Malicious Chrome extensions are stealing Solana funds. The UK has proposed new tax regulations for DeFi. Bitcoin surpasses $91,000. Summary generated by Mars AI. The accuracy and completeness of this summary are still being iteratively updated by the Mars AI model.

MarsBit2025/11/28 16:26
Mars Finance | "Machi" increases long positions, profits exceed 10 million dollars, whale shorts 1,000 BTC

How much is ETH really worth? Hashed provides 10 different valuation methods in one go

After taking a weighted average, the fair price of ETH exceeds $4,700.

ForesightNews 速递2025/11/28 15:05
How much is ETH really worth? Hashed provides 10 different valuation methods in one go

Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost

People tend to overestimate what can happen in two years, but underestimate what can happen in ten years.

深潮2025/11/28 14:53
Dragonfly partner: Crypto has fallen into financial cynicism, and those valuing public blockchains with PE ratios have already lost