🚀 Bitcoin Targets $118K — The Critical Level That Could Spark the Next Bull Run
Over the past week, Bitcoin’s price has been climbing, once again surpassing the significant $115,000 mark. On Friday, August 8, the leading cryptocurrency briefly crossed $117,000, driven by upbeat developments in the United States.
On Thursday, August 7, U.S. President Donald Trump signed an executive order allowing cryptocurrency investments through 401(k) retirement plans. This bullish news pushed Bitcoin’s price higher and could keep fueling momentum toward its previous all-time high.
Renowned analyst Titan of Crypto recently shared on X an unusual forecast suggesting Bitcoin could soon revisit its peak price of around $122,800.
Currently, BTC is approaching a pivotal resistance zone near the Kijun-sen from the Ichimoku Cloud indicator — a key level often seen as a market equilibrium point and a strong area of support or resistance.
The price has already moved above the Tenkan-sen (red line), signaling an early momentum shift. With the Kijun-sen around $118,000, this appears to be the final barrier before Bitcoin potentially retests the $123,000 range.
If BTC can maintain a position above this “blue line” for a sustained period, it would likely confirm the return of a bullish trend. The Chikou Span (lagging line) remains in positive territory, further strengthening the case for continued upward movement.
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