Bitcoin Near $120K, ETF Money Dey Push Rally Go Reach $135K
Bitcoin price don pull back from record high of $123,200 to low near $115,730. E now dey trade above $119,500 and the 100-hour simple moving average, e enter consolidation phase around $120,000. Bitcoin bulls still dey strong, dem dey supported by ten straight days of ETF inflows—$799.4 million on Wednesday—wey push total flows since July 2 to over $5.2 billion. Price analysis show say immediate resistance dey between $120,000 and $120,200. If e clear pass $123,218 fit trigger rally go $135,729 and even $150,000. For downside, support dey for 20-day EMA ($113,528), 100-hour SMA near $119,000, plus important floors at $115,500 and $110,530. Technical levels show hourly MACD dey lose bullish momentum but RSI still above 50. Traders go monitor these technical indicators and resistance zones for clear breakout or possible pullback. Short-term trading likely go range from $115,000 to $123,218, with move above $120,064 wey signal fresh bullish momentum.
Bullish
Continous ETF inflows and strong company support for key moving averages dey show say Bitcoin get sustained bullish feeling. Consolidation around the 100-hour SMA and 20-day EMA don set stage for possible breakout pass critical resistance for $123,218, fit push price go $135,729 and beyond. The RSI wey hold above 50 still confirm the underlying bullish momentum. These factors show say e get bullish outlook for both short and long term.