Bitcoin’s back, breaking past $115,500! After a surge, BTC is catching its breath, coiling like a spring. All eyes are on the $120,000 mark – will it shatter the barrier or be pushed back? The bulls are testing the waters, get ready for the next surge.
- Bitcoin started a fresh increase above the $115,500 zone.
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The price is trading above $115,500 and the 100 hourly Simple moving average. Bitcoin’s bulls are battling back! Keep your eyes peeled on the hourly BTC/USD chart (Kraken data). A crucial bullish trend line is emerging, currently finding support around $115,600. This could be the launchpad for the next leg up!
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The pair might start another increase if it clears the $117,500 resistance zone.
Bitcoin Price Aims Higher
Bitcoin bulls shook off earlier weakness, staging a spirited comeback from the $112,200 floor. Defying gravity, BTC punched through resistance at $113,500 and $114,800, signaling renewed upward momentum.
Bitcoin surged past $115,500, shattering resistance and entering bullish territory. It flirted with $117,500, peaking at $117,643 before taking a breather. Currently, Bitcoin is consolidating its gains, comfortably above the 23.6% Fibonacci retracement level, measured from the $112,629 swing low to the $117,643 high, suggesting strong underlying support.
Bitcoin Breaks $115,000 Barrier! Is This the Start of a Massive Bull Run?
Bitcoin is surging! The price has smashed through the $115,000 ceiling and is currently riding high above the 100-hour Simple Moving Average. Keep a close eye on the hourly chart for the BTC/USD pair – a key bullish trend line is solidifying, offering strong support around $115,600. Could this be the launching pad for a new, explosive rally? Traders are watching closely.
$117,200 is the line in the sand for bulls. Breach it, and we’ll test $117,500. Shatterthat, and $118,250 becomes the next battleground. A sustained push beyond $118,250 unlocks a potential surge, with $119,200 looming large. Conquerthat, and the psychological barrier of $120,000 beckons, with $121,500 as the ultimate prize.
Another Drop In BTC?
Bitcoin’s bull run faces a critical test: piercing the $117,500 barrier. Failure to break through could trigger a sharp retreat, with the first line of defense forming around $116,450. A breach there spells trouble, as the next major support looms near $115,600, coinciding with the current trend line. Will Bitcoin hold the line, or will bears seize control?
Bitcoin’s bulls are battling to hold ground! A critical support zone looms around $114,550, coinciding with the 61.8% Fibonacci retracement of the recent surge from $112,629 to $116,643. Failure to defend this level could trigger a slide towards $113,800. The ultimate line in the sand? $112,500. Breach that, and brace for a potential downward spiral.
Technical indicators:
Hourly MACD – The MACD is now losing pace in the bullish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.
Major Support Levels – $115,600, followed by $114,550.
Major Resistance Levels – $117,500 and $118,250.
Thanks for reading Bitcoin Price Roars Awake – $120K Within Striking Distance
