$BTC

📈 Current Technical Trend

On the 4-hour timeframe, Bitcoin is trading within a range between $118,500 and $119,000, with strong resistance at this level, and key support between $110,000 – $112,000.

Other analyses suggest that this is a positive accumulation phase, with the potential to break through resistance above $119,000–$120,000 and increase upward momentum.

According to Elliott Waves, the current movement supports a bullish scenario towards resistance at $122,000–$123,000 followed by a temporary correction towards the mentioned support levels.

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🏦 Fundamental and Supporting Factors

Bitcoin recently reached a new all-time high of around $123,200 – $123,300, driven by clearer regulatory constraints in the United States, and massive inflows from ETF funds, especially those backed by BlackRock and others.

Prominent analysts, such as Gerry O’Shea, expect the price to rise towards $140,000 before the end of the year.

Deutsche Bank indicates an increasing institutional trend, and supportive legislation such as the "Digital Asset Market Clarity Act" and the "GENIUS Act", which enhances further institutional integration in the long term.