Bitcoin Gearing Up for $123K? Breakout Brewing 🚀
BTC is trying to regain momentum above $120K after a solid bounce off the $115.8K support zone. Now trading above $119K and the 100-hour SMA, bullish signals are starting to build.
On the hourly chart, BTC/USD has broken above a descending trendline near $119K. A breakout above the $120.5K level could fuel a push toward $123K and potentially higher.
🔹 Resistance Levels: $120.2K → $121.4K → $123.15K
🔹 Support Zones: $117.5K → $115.5K → $113.5K
A clean move above $123.15K could clear the path to $124.2K and even $126.2K in the short term.
But if BTC struggles to break $121.4K, a pullback could follow, with $117.5K as a key support zone.
📊 RSI is steady above 50 and MACD stays positive — bulls remain in control for now.
Will BTC continue its climb or hit resistance once more?
