Bitcoin price prediction: BTC dips to 3-week low as bearish structure intensifies

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Sholanke Dele

01.08.2025

Bitcoin price prediction: BTC dips to 3-week low as bearish structure intensifies — Bitcoin losses now exceeding 4% on the week

Bitcoin price has extended its losing streak into August after closing July on a four-day stretch of red candles.

The cryptocurrency began this week by rejecting the top resistance trendline of the bearish channel near $119,780, and yesterday, Thursday, marked the first daily close below the 20-day EMA since early July. That close came at $115,770, pulling bitcoin’s July performance back from a 13.88% gain at the high of $122,000 to just 8%.

- Bitcoin loses over 4% this week after closing below the 20-day EMA

- BTC 4hr RSI drops to oversold territory while price hits three-week low at $114,400

- 20 and 100 EMA cross on 4-hour chart signal deepening short-term bearish momentum

Thursday's session printed the highest daily volume of the week and confirmed a change in market character as RSI fell below the 50 mark into bearish territory for the first time in a month. The technical deterioration deepened overnight as the new month opened. In the Asian hours of Friday, bitcoin dropped 1.2% to a session low of $114,400. That level is the lowest price print in the last three weeks, further validating the lower-low structure inside the slightly descending channel.

BTC price dynamics (June - July 2025). Source: TradingView

As of the European session, the price is still hovering around $114,400 and is on course to end the week with a loss of over 4%. The lower support trendline of the bearish channel lies just below this level at $114,200. If sellers manage to push below that zone, a larger breakdown may develop. RSI on the 4-hour chart has already crossed below the 30 threshold into oversold territory, a move that suggests short-term exhaustion but not necessarily a reversal yet.

Bitcoin 20 and 100 EMA cross on 4-hr chart confirms short-term bearish setup

More warning signs emerged on the 4-hour chart as the 20 EMA slid beneath the 100 EMA for the first time since late June, hinting at increasing short-term bearish momentum. If the price continues to drop through the base of the bearish channel, the 50-day EMA near $112,900 could serve as the next major support to monitor in the coming sessions.

Should a bounce occur from the lower boundary of the channel, the 20-day EMA around $116,600 will act as immediate resistance for any recovery attempt. For now, all indicators point to sustained weakness in the opening days of August unless a sharp intraday reversal disrupts this bearish trajectory.

Bitcoin price bounced as traders awaited the FOMC minutes and the White House Bitcoin reserve report. Bitcoin formed a Doji near $117,000 after rejecting the bearish channel’s resistance.

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