{"id":39113,"date":"2025-07-28T12:46:55","date_gmt":"2025-07-28T12:46:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=39113"},"modified":"2025-07-28T12:46:55","modified_gmt":"2025-07-28T12:46:55","slug":"bitcoin-seeing-severe-exhaustion-of-bullish-momentum","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=39113","title":{"rendered":"Bitcoin Seeing Severe Exhaustion of Bullish Momentum"},"content":{"rendered":"<div>\n<p><strong><em>This is a daily analysis of top tokens with CME futures by CoinDesk analyst and Chartered Market Technician Omkar Godbole.<\/em><\/strong><\/p>\n<h2>Bitcoin: Correction risks mount<\/h2>\n<p>Bitcoin (BTC) continues to trade directionless near $120,000 amid data from the Deribit-listed options showing a significant positive dealer gamma at the $120,000 and $120,500 strikes. When dealers have a positive gamma exposure, they buy low and sell high to rebalance their net exposure to neutral, inadvertently arresting volatility.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/2366ac98aa34b061b4c2ad2fa584fc3373808ef0-1486x1049.png?auto=format\" alt=\"BTC's dealer gamma. (Deribit\/Amberdata)\" title=\"BTC's dealer gamma. (Deribit\/Amberdata)\"><\/p>\n<p>The crucial support area between $116,000 and $117,000, validated by both price charts and <a href=\"https:\/\/www.coindesk.com\/daybook-us\/2025\/07\/28\/altcoins-pop-as-bitcoin-stalls-near-usd120k-crypto-daybook-americas\">on-chain activity<\/a>, if breached, would likely pave the way for a retest of the May high just below $112,000. Conversely, a convincing move above $120,000 will likely bring record highs.<\/p>\n<p>That said, the case for an extended pullback looks strong, as the miniscule 0.12% green bar, confirmed on July 22 on the three-line break chart with daily configuration, indicates uptrend exhaustion.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/d7c2fb4b3e977986263bf0d68fdd7d09cb715c84-2854x1292.png?auto=format\" alt=\"BTC's three-line break chart. (TradingView)\" title=\"BTC's three-line break chart. (TradingView)\"><\/p>\n<ul>\n<li><strong>AI&#8217;s take: <\/strong>On a three-line break chart, where each bar signals a confirmed trend move, the minuscule 0.12% green bar on July 22 is a significant warning. It indicates that the strong uptrend is experiencing severe exhaustion of buying momentum, suggesting a potential imminent consolidation or reversal despite the overall bullish trend.<\/li>\n<li><strong>Resistance: <\/strong>$120,000, $123,181. <\/li>\n<li><strong>Support: <\/strong>$116,000-$117,000, $114,700, $111,965.<\/li>\n<\/ul>\n<h2>Ether: Hits 7-Month<\/h2>\n<p>Ether (ETH) has risen nearly 2% in the past 24 hours, hitting a seven-month high of $3,937 at one point, which invalidated the indecisive Doji signal from last week.<\/p>\n<p>The momentum, however, was short-lived, as prices quickly pulled back to $3,880 as of the time of writing, validating the 14-day RSI, which did not confirm the fresh multi-month high in prices, hinting at potential bearish divergence and an impending correction. The daily chart MACD histogram also teased a bearish cross, with on-chain fundamentals like Ethereum&#8217;s native fees and revenue failing to keep pace with the rising prices.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/3947dd0bc9909309757ef6376b8973bc21b3869f-2854x1292.png?auto=format\" alt=\"ETH. (TradingView)\" title=\"ETH. (TradingView)\"><\/p>\n<p>The higher low of $3,510 established on Thursday remains key support, below which, the risk of an extended slide would increase. On the higher side, the $3,900-$4,100 is the key resistance range from 2024.<\/p>\n<ul>\n<li><strong>AI&#8217;s take: <\/strong>The MACD is flashing an impending negative cross, signaling weakening bullish momentum, while the RSI shows bearish divergence, failing to confirm new price highs. These indicators collectively point to a loss of upward thrust, increasing downside risk.<\/li>\n<li><strong>Resistance: <\/strong>$4,000, $4100, $4,382. <\/li>\n<li><strong>Support: <\/strong>$3,770 (daily low), $3,510, $3,000. <\/li>\n<\/ul>\n<h2>XRP: Retreats from support-turned-resistance<\/h2>\n<p>XRP (XRP) has reversed the gains from the Asian session, retreating from near the former support-turned-resistance level at $3.35. The pullback appears to have legs, as the hourly chart&#8217;s RSI has violated the bullish trendline and the MACD histogram has crossed below zero, signaling a bearish shift in momentum. <\/p>\n<p>This structure favors a retest of the July 24 low of $2.96, below which, the focus would shift to the May high of $2.65.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/7c35add7403462606e764a61f411ef7d88bea1c4-2860x1292.png?auto=format\" alt=\"XRP's hourly and weekly charts. (TradingView)\" title=\"XRP's hourly and weekly charts. (TradingView)\"><\/p>\n<p>The tweezer top pattern on the weekly chart, characterized by consecutive candlesticks with highs at $3.65, also suggests a bearish shift in momentum.<\/p>\n<ul>\n<li><strong>AI&#8217;s take: <\/strong>XRP&#8217;s impressive rally has been capped by a significant &#8220;tweezer top&#8221; candlestick pattern, a strong bearish reversal signal that warns of potential downside from its multi-year highs.<\/li>\n<li><strong>Resistance: <\/strong>$3.35, $3.65, $4.00.<\/li>\n<li><strong>Support: <\/strong>$2.96, $2.65, $2.44 (the 200-day SMA)<\/li>\n<\/ul>\n<h2>Solana: Not out of the woods yet <\/h2>\n<p>SOL&#8217;s (SOL) price has recovered to trade above the hourly chart Ichimoku cloud, establishing higher lows to suggest renewed upward momentum and a possible retest of $200, the upper end of the ascending channel. <\/p>\n<p>Still, we are not out of the woods yet, as the tweezer top formation at $205-$206 on the daily chart remains valid. Hence, a move below $184, the higher low, cannot be ruled out and will likely lead to an accelerated pullback to the 200-day SMA at $163. <\/p>\n<p><img decoding=\"async\" src=\"https:\/\/cdn.sanity.io\/images\/s3y3vcno\/production\/cd53b79104a29a3094c6bde15de68a11b88ec252-2860x1292.png?auto=format\" alt=\"SOL's hourly (left) and daily charts. (TradingView)\" title=\"SOL's hourly (left) and daily charts. (TradingView)\"><\/p>\n<ul>\n<li><strong>AI&#8217;s take: <\/strong>Solana&#8217;s impressive July rally has produced a &#8220;Tweezer Top&#8221; candlestick pattern at its peak, signaling a strong bearish reversal that suggests significant selling pressure has entered the market.<\/li>\n<li><strong>Resistance: <\/strong>$205-$206, $218, $252. <\/li>\n<li><strong>Support: <\/strong>$184, $163, $126.<\/li>\n<\/ul>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>This is a daily analysis of top tokens with CME futures by CoinDesk analyst and Chartered Market Technician Omkar Godbole. Bitcoin: Correction risks mount Bitcoin (BTC) continues to trade directionless near $120,000 amid data from the Deribit-listed options showing a significant positive dealer gamma at the $120,000 and $120,500 strikes. When dealers have a positive [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-39113","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39113","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=39113"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/39113\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=39113"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=39113"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=39113"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}