Today's market performance is truly impressive. BTC has finally lived up to expectations, strongly breaking through the $110,000 mark and setting a new high of $110,981.96 this year! This rise is not to be underestimated; it is backed up by real capital. The buying power from major funds is relentless.
Look at this K-line shape; it’s simply a textbook-level bullish arrangement. The MA moving averages are perfectly aligned to support price increases, with the 7-day moving average at $106,493.22 and the 30-day moving average at $100,033.90 forming strong support. The MACD histogram continues to expand, and although the RSI is showing signs of fatigue at high levels, there is no need to fear overbought conditions in a strong market. Now is the bullish arrangement's main upward phase; anyone fearing heights here is simply foolish.
The current price has stabilized above the crucial psychological level of $110,000, which is an important defense line for bulls. After breaking through, the next target will naturally be the $120,000 mark, followed by the challenge of the historical resistance area at $130,000. The strength of this wave of market action should not be underestimated. From the volume-price correlation, the inflow of funds is very determined, exchange balances continue to decrease, and whale addresses are increasing their holdings—these are all typical characteristics of a bull market.
On-chain data is also flourishing; whale addresses continue to accumulate, institutional funds are rushing in, DEX trading volumes are hitting new highs, and the funding rates in the derivatives market continue to be positive. These are all signs of a healthy market. The current pullback is just an opportunity for entry. Those who are still waiting on the sidelines will regret it when the market really hits $120,000.
From a technical perspective, the daily level has opened up upward space, and the weekly level is showing a perfect rising channel. Any pullback now is just to facilitate a better rise. This is a typical institutional trading strategy, deliberately creating panic to get retail investors to sell, while they quietly build their positions. We are now in the beginning phase of the main upward trend.
The target for this wave of Bitcoin is definitely not just $130,000, but it aims to challenge the historical high. As long as market sentiment and funding do not reverse, breaking through $130,000 is just a matter of time. Let’s witness history together and achieve common prosperity.
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