Bitcoin (BTC) Price Prediction for July 23

After an early-week bounce toward $118,000, Bitcoin price is back under pressure as sellers reclaim control near the upper bounds of a multi-week range. Bitcoin price today is trading around $116,900, down by 0.5% on the day, struggling to hold higher within a visible descending channel on intraday charts. Traders are watching for signs of volatility expansion as price coils just above key demand. What’s Happening With Bitcoin’s Price? BTC price dynamics (Source: TradingView) BTC price continues to respect the bounds of a descending parallel channel visible on the 2-hour chart, with clear lower highs and lower lows since the $123,000 rejection earlier in July. This structure is compressing price into a narrowing band, with support near $115,500 and resistance stacked around $118,000. RSI on the 2-hour chart is sitting at 41.49, reflecting fading bullish momentum. The MACD histogram remains flat with a minor bearish crossover, suggesting further indecision in the short term. Price remains trapped inside the midline of the descending channel, highlighting a lack of aggressive trend follow-through by bulls. BTC price dynamics (Source: TradingView) The 4-… The post Bitcoin (BTC) Price Prediction for July 23 appeared first on Coin Edition .

Source: Coin Edition