📈 Updated Technical Analysis:
Bitcoin continues to consolidate its dominance above $118K, with a moderate bullish momentum of +0.52% in the last 24 hours. This movement is driven by constant institutional flows, according to Glassnode data, and the maintenance of its key support around $115,000.
The 50-day moving average (MA50) is crossing upwards over the 200-day moving average (MA200), forming a technical 'Golden Cross', generally interpreted as a signal for bullish continuation. The RSI remains at 62, indicating that there is still room before reaching an overbought zone. Regarding the volume ($69.07B), it continues to show strong liquidity, supporting the current market structure.
Mike Novogratz, CEO of Galaxy Digital, warned on Bloomberg that if BTC manages to close August above $120K, institutional FOMO could reactivate.
🔍 Technical Strategy:
Key immediate resistance zone: $120,500
Immediate support: $115,200
Ideal for scalpers and swing traders, with a bullish outlook if it surpasses $122K with volume.
💬 Strategic Reflection:
Bitcoin is preparing for a decisive stage. Institutional interest and technical movements align for a possible breakout.
