The Bitcoin (BTC) price has broken above the overhead barrier and has risen to a high of $118,790.
Bitcoin price long-term prediction: bullish
Bitcoin’s bull run is taking a breather, bumping its head against the $118,000 ceiling. While holding above the $116,000 safety net, can it gather enough steam for another push? Keep your eyes peeled Bitcoin has bounced back from this crucial level before. A successful breakout could send it soaring past that $118,000 mark.
Bitcoin teeters on the brink. Shatter the $118,000 ceiling, and analysts predict a surge to a breathtaking $121,488. Currently trading in the shadows of that critical mark, Bitcoin is coiled, ready to spring. But a tremor in the market has seen it dip to $117,530. Will it rally and break through, or will it falter? The crypto world holds its breath.
BTC price indicators analysis
Bitcoin’s bulls are stampeding! Since shattering resistance, the price action has soared, leaving moving averages in the dust. The 21-day SMA is flexing its upward trajectory, comfortably perched above the 50-day SMA’s steadfast support. The signal is clear: as long as Bitcoin stays above these key moving averages, the ascent is far from over. Prepare for liftoff!
Technical indicators
Key supply zones: $110,000, $115,000, $120,000
Key demand zones: $100,000, $95,000, $90,000
What is the next move for BTC?
Bitcoin’s sideways trend has been broken and the bulls broke through the overhead resistance at $110,000.
The rally’s engine sputters, price action pulling back from its $118,000 high-water mark, yet clinging to $116,000 like a lifeline. A series of indecisive doji candles paint a picture of market participants caught in limbo, unsure whether to buy the dip or brace for a deeper plunge.
Coinidol.com reported on July 6 that BTC price held above the support level of $108,000.
Trading crypto?This analysis is just one perspective, not a crystal ball. CoinIdol.com doesn’t endorse any specific investment. Your wallet, your responsibility. Dig deep, do your homework, and trade wisely.
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