Bitcoin Price Dey Eye $120K Breakout; ATH Dey Sight
Bitcoin price dey trade around $118,000 after e gain 4.17% for the week. Technical analysis wey KillaXBT do show say the August monthly open for $115,752 don change to support, wey mean say the market get bullish momentum. One important resistance zone for $120,000 dey join last week open ($119,414) plus major liquidation orders. If e break the down trendline for lower timeframes, e fit push Bitcoin price come near $120K and fit try test the all-time high near $123,186. But if Bitcoin no fit cross $120K, e fit pull back go the support range between $110,000 and $112,000 wey get one fair value gap at $111,955. Traders suppose dey watch for pattern wey dey show higher highs and higher lows inside the day to confirm say the uptrend dey. Even though early week dip fit hunt liquidity from overleveraged longs, overall momentum dey bullish.
Bullish
Di anaylis tok say Bitcoin price dey show say e get better momentum because di $115,752 monthly open don turn to support and e fit break above di $120,000 resistance zone. For short term, traders fit see small pullback as dem dey run liquidity, but di main uptrend still strong because di pattern get higher highs and higher lows. If e move well well past di descending trendline, e fit make quick run go di $123,186 highest price ever. Overall, dis technical signs dey show say di price fit continue to go up for near and long term.