BTCUSD
Bitcoin is trading in an upward trend in the medium term, which opens the door for further price increases and the formation of new highs. However, if the support area at $119,000 is broken to the downside, a retest of the $116,500 area may occur during today’s trading.
|
Support |
119000 | 116500 | 113500 |
| Resistance | 123000 | 124000 |
– |
Bitcoin witnessed a notable surge today, surpassing the $120,000 level and reaching its highest point since the beginning of the year, touching $122,000. This rally came after a clear breakout of key resistance zones. The recent movement confirms that Bitcoin has entered a new bullish wave, especially with its ability to hold steady support around $119,000, which strengthens expectations of targeting the $125,000 and then $130,000 levels in the near term.
On the financial and fundamental side, this rise was supported by a significant increase in institutional demand, particularly from major investment firms that continue to expand their Bitcoin holdings amid a limited supply. Additionally, the positive regulatory atmosphere in the United States with upcoming legislation expected to support digital assets has helped boost market confidence. With this performance, Bitcoin is now combining strong technical support with high investor sentiment, placing it in one of its strongest phases in a long time.
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