Bitcoin (BTC), Ethereum (ETH) and Ripple (XRP) continue to show signs of strength heading into the weekend, with bullish sentiment lifting prices. BTC is holding steady above $111,000 as traders eye the long-awaited $120,000 milestone. Meanwhile, ETH and XRP prices found support at their key levels, suggesting the uptrend may carry ETH toward $3,000 and XRP toward $3.
Bitcoin bulls gain momentum, targeting the $120K mark #LearnAndDiscuss $BTC
Bitcoin's price rallied and broke above its all-time high of $109,588 on Wednesday. It continued its rise, setting a new ATH of $111,980 the next day. At the time of writing on Friday, it stabilizes at around $111,000.
BTC enters a price discovery mode: if it continues its upward trend, it could extend the rally toward a key psychological level of $120,000.
The Relative Strength Index (RSI) on the daily chart reads 76, above its overbought level of 70, indicating strong bullish momentum. However, traders should be cautious as the chances of a pullback are high due to its overbought condition. Meanwhile, the Moving Average Convergence Divergence (MACD) indicator also showed a bullish crossover on Wednesday, giving buy signals and indicating an upward trend.
BTC/USDT daily chart
If BTC faces a pullback, it could extend the correction to retest its key support at $105,000.
