Bitcoin Price Prediction: BTC Consolidating, Market Awaits Next Major Move!

The price of Bitcoin is currently consolidating, within a range of $112,000 to $118,000. Despite several attempts to break through pushing Bitcoin towards the resistance level of $124,000, the market quickly pulled back, and the price returned to the familiar range.

This area has become the battleground for bulls defending the support level and bears trying to limit upward momentum. Ethereum is nearing its all-time high – but Bitcoin still leads the market.

Ethereum is approaching the historical high of $5,000, which has sparked optimism across the entire cryptocurrency industry. However, historical experience shows that Bitcoin usually leads the market. If BTC successfully breaks through $118,000 and holds $124,000, this momentum could trigger a new wave of gains for altcoins.

On the other hand, a significant drop or crash could drag down Ethereum and other cryptocurrencies in the market. In this context, Bitcoin price prediction is crucial not only for BTC holders but for the entire digital asset space as well.

Looking at the chart below #BTC走势分析 , we note the following points:

Resistance Levels: $118,600 to $124,000 remains the resistance above. If the closing price breaks this range, it indicates that bullish momentum will strengthen again and open the door to uncharted territories. Immediate Support Level: $112,000 is the key support level. Falling below this level could accelerate downward pressure. Major Support Level: The 200-day moving average near $100,800 serves as the next critical safety net. If it breaks, market sentiment could sharply turn bearish. Long-term Risk Levels: If the market experiences a significant correction, $75,000 and $66,000 (highlighted as deeper support areas) will come into play.

Short-term moving averages still provide support, and if the long-term fails to break the resistance, it may lead to a trend reversal to bearish.

Currently, Bitcoin price prediction is clear: consolidation continues, but volatility is increasing. A breakout from the range of $112,000 to $118,000 is very likely to determine the next major trend, not only for BTC but for the entire cryptocurrency market.