Bitcoin broke $118,000 USDT on July 12, 2025, confirming strong bullish momentum. It exited a horizontal trend channel, turning former resistance into support. With minimal overhead resistance, further gains appear likely.
Buying volume exceeds selling, showing conviction. However, the RSI above 70 signals overextended conditions, raising short-term pullback risk.
Analysts remain optimistic, forecasting $125,000–$132,000 by late July. This outlook hinges on sustained ETF inflows and institutional demand.
Watch for:
- A potential minor correction due to overbought RSI.
- Key support near $110,000 to maintain the breakout’s strength.
- Continued institutional activity as the primary price catalyst.