Bitcoin news: BTC price trades flat as 6-day range compression hints at breakout
Bitcoin trades sideways for sixth day as breakout tension builds
Bitcoin price has now spent six consecutive days inside a tight range between $109,800 and $107,350, extending a broader nine-week consolidation phase that has anchored above the key $100,000 psychological level.
Highlights
-Bitcoin trades near $108,700, showing resilience despite a tight six-day range
-RSI above 50 signals underlying strength supporting potential upside breakout
-Binance short pressure persists, but spot buyers continue to hold key support levels
Today, Wednesday, July 9, BTC trades near $108,700 in the European session, posting a minor 0.2% loss since the Asian hours. This lack of directional momentum continues to frustrate breakout traders, as Bitcoin holds its ground within well-defined boundaries.
BTC price dynamics (May - July 2025). Source: TradingView
The base of this short-term range finds technical support near the 20-day EMA. This average has acted as a stabilizing zone, shielding Bitcoin from more aggressive sell-offs. A decisive break below both the $107,350 level and the 20-day EMA could change the overall tone for July, paving the way for short-term momentum on the downside. In that case, Bitcoin would likely face deeper pressure and retest lower support levels within its broader consolidation band.
Bitcoin CVD prints negative on Binance, yet spot buyers defend 100k support
Despite this threat of a breakdown, technical indicators still tilt towards the bulls. The 4-hour RSI continues to bounce above the neutral 50 level, now sitting near 53, while the daily RSI prints a slightly stronger reading at 55. These suggest underlying strength that could support an upside move, especially if buyers manage to reclaim $109,800 convincingly.
From a derivative's perspective, Binance data reveals that traders have been shorting aggressively throughout this nine-week period. Cumulative Volume Delta (CVD), which measures the net of market buy and sell orders, has consistently printed negative, reflecting strong sell-side activity. Yet, Bitcoin has absorbed this pressure without losing key support zones, indicating resilience from spot market buyers.
The longer price continues to compress above $107,350, the more explosive the breakout is likely to be. A break above the top of the current range could fuel a rally to test the previous all-time high at $112,000, possibly opening the door for a new record high. Until then, traders are watching for a decisive move out of the six-day congestion, either to confirm bullish continuation or mark the beginning of a bearish swing for July.
Bitcoin faced profit-taking pressures and could not push beyond $112,000. BTC traded sideways between $107,370 and $109,860 and RSI stayed neutral.
