Price Action $BTC
1. New All-Time High
Bitcoin recently surged past $112K, reaching up to around $116–117K—its highest ever recorded levels .
2. Breakout from Descending Channel
After breaking above a long-term descending channel, BTC has ongoing bullish momentum. The breakout is supported by a healthy Relative Strength Index (RSI) that isn’t yet overbought .
3. Volume & Accumulation
Trading volume on central exchanges like Coinbase has dipped, suggesting institutional investors may be moving in via spot BTC ETFs instead .
4. Support & Resistance Levels
Support Zones:
$107K — near the 50‑day SMA and the breakout point of the former channel .
$100K — a major historical support area.
Resistance/Targets:
Short-term resistance is now around $120–128K .
Technical counting suggests an upside target near $146K (roughly 32% above current) .
📈 Summary
Overall trend: Strong bullish breakout, supported by momentum and chart structure.
Risk levels to watch: Key support lies around $107K–$100K.
Upside potential: If momentum continues, next upside zones target $120–128K, with a longer-term stretch toward $143–146K possible.
📌 What to Monitor Next
Will BTC hold above $107K during any short-term pullbacks?
Can BTC clear the $120–128K range to sustain a rally toward $140K+?
Watch trading volumes, especially on ETF inflows vs. exchange withdrawals, to gauge institutional market sentiment.