$BTC 🚀 $BTC Soars Past $118K! Are Bulls Running Out of Steam or Just Getting Started? 🐂🔥

The latest BTC chart shows Bitcoin smashing through key resistance zones to print a new local high at $118,800. The momentum has been electric, but is it sustainable? Let’s break it down:

📊 Price Action:

From a low of $98,208 on June 22, BTC surged over +20% in just three weeks. The rally accelerated in early July, supported by growing volume and a steep rise in short-term MAs.

📈 Key Technical Indicators:

Moving Averages (MA7, MA25, MA99): Strong bullish alignment with MA7 & MA25 hugging the price action and MA99 trailing far below at ~$112K. This gap signals aggressive short-term buying pressure.

MACD: The bullish crossover earlier this month gave way to momentum peaking on July 11. Since then, the histogram has flattened, and the MACD lines are tightening—suggesting a possible slowdown.