BTC Price Soars Beyond $112,000 📈
The king of cryptocurrencies has successfully broken through the $111,000 resistance level and its previous all-time high of $112,000. BTC relied on the bullish 9 and 18 moving averages to surge toward the $120,000 mark.
With Bitcoin now in price discovery mode, buyers are in control of the market. If momentum slows near the psychological round number of $120,000, the price could bounce off the bullish 9 and 18 MAs or find support around $111,000. Meanwhile, the RSI is forming higher lows and higher highs, indicating a short-term bullish momentum.
After a period of consolidation, Bitcoin’s price is exploding upward and is heading toward $120,000. Volatility has returned, and according to some experts, the king of crypto could even aim for $150,000.