Bitcoin (BTC) Price Analysis (Jul 17, 2025): Short-Term Consolidation Holds While Altcoins Take the Lead

Bitcoin is trading just below the $118,000 mark and appears to be consolidating on the lower timeframes. This pause comes after a strong push upward, and as we noted in our previous analysis, the broader trend still leans bullish. But with altcoin season heating up and Bitcoin dominance starting to slip, some sideways action wouldn’t be surprising here. In fact, a short-term pullback to retest lower levels could help BTC gather fresh momentum for its next leg up. Let’s dig into the charts to see how things are shaping up in the immediate short term.

Analyzing the Charts

Zooming into the 1-hour chart, Bitcoin continues to move sideways, showing clear signs of consolidation. Momentum remains weak for now, with the price struggling to push decisively in either direction.

Bitcoin is also facing notable resistance around the $120,000 level. A clean breakout above this zone would likely give the price the push it needs to start targeting the $130,000 and eventually the $140,000 region.

While resistance at $120,000 remains key, the ongoing consolidation also brings the possibility of a short-term correction. We're keeping an eye on support just below the $116,000 mark, which could see a retest soon. If that level fails to hold, Bitcoin may drop into the region below $112,000 to sweep liquidity before attempting another move higher.

That said, a retest of the support below $116,000 could just as easily turn into a fake out. In that case, Bitcoin might quickly rebound and make another attempt to break above $120,000, setting its sights on the $130,000 level and beyond. Still, with Bitcoin dominance declining and altcoin season gaining traction, the setup leans more toward a correction before the next major move up.

Final Takeaway: What is Next for Bitcoin (BTC)?

Bitcoin is trading just below $118,000 and continues to move sideways on the lower timeframes. The $120,000 level remains a key resistance, and a breakout above it could open the door to higher targets like $130,000 and $140,000. At the same time, a short-term correction is still possible, especially with altcoins gaining strength.  As long as BTC holds above key support levels, the broader uptrend remains intact, and the current Bitcoin price prediction still favors the bulls in the medium term.