Bitcoin is currently trading at $118,209, demonstrating continued strong bullish momentum in the market. This aligns with broader market sentiment, which has seen significant institutional inflows, particularly through spot Bitcoin ETFs, driving BTC to new all-time highs in July 2025. The transformation of Bitcoin from a speculative asset to a macro asset, coupled with factors like global liquidity and capital reallocation, are providing substantial tailwinds.
Given this robust backdrop and your weekly target of $126,000, the market appears poised for further upside. However, it's crucial to acknowledge the possibility of short-term volatility and technical corrections after such significant gains.
Key Resistance Level:
The immediate key resistance level to watch is around the $12O,000 - $122,500 range. A sustained break above this zone, ideally with strong volume, would reinforce the bullish outlook and open the path towards your $126,000 target and potentially higher. The next significant resistance beyond that is around $130,000 - $136,000.
Key Support Area:
On the downside, a crucial support area to monitor for potential pullbacks is around $110,000 - $112,000. This area has acted as a strong accumulation zone recently and aligns with key moving averages. A deeper correction could see price test the $100,000 psychological support level. As long as Bitcoin holds above the $110,000 - $112,000 range, the bullish structure remains intact for a push towards OUR weekly target."
Given this robust backdrop and your weekly target of $126,000, the market appears poised for further upside. However, it's crucial to acknowledge the possibility of short-term volatility and technical corrections after such significant gains.
Key Resistance Level:
The immediate key resistance level to watch is around the $12O,000 - $122,500 range. A sustained break above this zone, ideally with strong volume, would reinforce the bullish outlook and open the path towards your $126,000 target and potentially higher. The next significant resistance beyond that is around $130,000 - $136,000.
Key Support Area:
On the downside, a crucial support area to monitor for potential pullbacks is around $110,000 - $112,000. This area has acted as a strong accumulation zone recently and aligns with key moving averages. A deeper correction could see price test the $100,000 psychological support level. As long as Bitcoin holds above the $110,000 - $112,000 range, the bullish structure remains intact for a push towards OUR weekly target."
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forex expert, with years of trading market experience. you can join my telegram channel for further assistance. t.me/xauusdgoldsignals56
you can also join xness via my link one.exnesstrack.org/a/lb8ut6oczq
you can also join xness via my link one.exnesstrack.org/a/lb8ut6oczq
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.