Bitcoin Dey Consolidate for $118K, Eye $125K Breakout
Bitcoin don recently pass e pass im all-time high wey be $104.4K, e come get beta signs like bullish MVRV, RSI and MACD signals plus better macro tailwinds from US debt ceiling change and M2 supply wey dey rise. After e reach peak $118,667, Bitcoin dey consolidate around $117,953 now. TradingView analyst RLinda talk two things fit happen: if e drop under $117,500–116,700 support, Bitcoin fit scatter go $115,500, $114,300, $111,800 or even $110,400, with Fibonacci levels at $113,031 and $111,960 wey go help hold am. But if e close daily pass the $118,400–118,900 resistance, e go confirm breakout go $125,000, because of possible short squeeze for high liquidity pools. Glassnode NUPL reading 0.69 show say long-term holders still dey make profit without any wahala. Traders gats watch key support and resistance zones well to arrange how dem go enter, exit and manage risk.
Bullish
Di combined analysis dey show say Bitcoin get steady bullish momentum. Technical indicators like MVRV, RSI, MACD plus macro factors don make recent breakouts happen, and the current consolidation near $118K dey set clear support and resistance levels. If e close decisively above $118,900, e fit carry Bitcoin go $125K, wey dey align with earlier short-squeeze forecasts. Even though if e break below $116,700, e fit cause deeper pullback, the overall trend still positive, supported by healthy market sentiment (NUPL 0.69) and liquidity dynamics. So, the news na bullish one, wey offer both short-term breakout potential and continued long-term upside.