Return of $BTC to the upward path – Does the journey towards 124,500 begin?
Bitcoin is currently trading at $116,461 after a strong bounce from support at $112,000, maintaining upward momentum above the 144 Exponential Moving Average. This movement indicates a potential resumption of the positive trend, with targets exceeding 124,500 in the coming days.
🔸 Important technical levels:
- Immediate support: 114,000 – 114,800
- Major support: 111,800 – 112,000
- Current resistance: 120,000 – 121,000
- Upward targets:
• First target: 124,500
• Extension: 127,000 – 129,000
📌 Bullish scenario:
Staying above 114,000 supports continued upward movement. Breaking 120K will push the price towards 124.5K and possibly to 127K – 129K.
⚠️ Bearish scenario:
Losing 114K brings the price back to test 112K, and breaching it opens the door to a drop towards 108K – 106K.
Follow the analyses continuously on channel #CryptoEmad