Watch out for this! Bitcoin (BTC) is at a crucial point, moving like on a tightrope. After a small drop, the price rose strongly and surpassed the barrier of $118,000. It even broke a trend line that was kind of holding it back. It looked like it was going to keep rising.
But here comes the data that changes everything: BTC hit strong resistance at $120,000. A peak formed just above, at $120,237! Since then, it has been kind of breathing, consolidating gains near $118,500 and above the 100-hour moving average.
The key to the news is this: if Bitcoin decisively breaks through $120,200, we could see a brutal push that takes it to $121,000, and even to $122,500. The final target in that bullish scenario could be $123,200! Get ready to see fireworks if that happens. 🎆
Now, not everything is rosy. If BTC fails to overcome that $120,200, a correction could come. Immediate supports are at $119,200 and then at $118,500. If it drops from there, be careful, because it could go down to $116,500 and the main support, which is $115,000. If it gets there, things could look bad in the short term. 😬
The technical indicators tell us that the MACD is losing bullish strength, but the RSI remains above 50, which gives some breathing room. It's like a giant chess game: the bulls and bears are moving their pieces, and every level is an important play.
Moreover, there is a factor that adds more spice to the situation: Donald Trump has been commenting on cryptocurrencies, and there is talk that he could open the door to crypto investments in the $9 trillion retirement market. That would be a bombshell for the market! 🤯 If traditional money starts looking at cryptos, the playing field changes completely.
So, the question is: will this be the final push for Bitcoin to soar, or will we see a drop to gain new momentum? The move is in the air, and the attention of everyone in this world is focused on those key numbers. Let's closely follow every movement! $BTC
