Bitcoin Targets $118K — The Level That Could Trigger the Next Bull Run
Bitcoin is back on the move, reclaiming the crucial $115,000 mark this week. On Friday, August 8, the top cryptocurrency briefly pushed past $117,000, fueled by bullish news out of the United States.
On Thursday, August 7, U.S. President Donald Trump signed an executive order allowing Americans to invest in cryptocurrencies through their 401(k) plans. This landmark policy shift lit a fire under BTC, with analysts now eyeing its all-time high.
Well-known crypto analyst Titan of Crypto shared on X that Bitcoin could soon retest its previous peak near $122,800. But before that, BTC faces one key hurdle — the Kijun-sen (Base Line) from the Ichimoku Cloud, sitting around $118,000.
Currently, BTC is trading above the Tenkan-sen (red line), signaling an early momentum shift. If price action can hold above the “blue line” (Kijun-sen), it may confirm the start of the next major bull run. Meanwhile, the Chikou Span (lagging line) remains in bullish territory, reinforcing the upward trend.
Key Levels to Watch:
• Resistance: $118,000 (Kijun-sen)
• Target: $122,800 (ATH)
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