Bitcoin Price Hits New Milestone ATH, Bulls Eye Even Higher Levels

Bitcoin worth is gaining tempo above the $121,200 zone. BTC is now consolidating and may purpose for a transfer above the $124,000 resistance zone.

• Bitcoin began a contemporary enhance above the $122,000 zone.
• The worth is buying and selling above $122,000 and the 100 hourly Easy transferring common.
• There’s a bullish pattern line forming with help at $120,200 on the hourly chart of the BTC/USD pair (knowledge feed from Kraken).
• The pair may begin one other enhance if it clears the $124,000 resistance zone.

Bitcoin Value Hits New ATH

Bitcoin worth fashioned a base above the $118,500 stage and began a contemporary enhance. BTC gained tempo for a transfer above the $120,000 and $120,500 ranges.

The bulls even pumped the value above the $122,000 stage. The worth traded to a brand new all-time excessive close to $123,973. It’s now consolidating beneficial properties above the 23.6% Fib retracement stage of the upward transfer from the $118,971 swing low to the $123,973 excessive.

Bitcoin is now buying and selling above $120,000 and the 100 hourly Easy transferring common. There’s additionally a bullish pattern line forming with help at $120,200 on the hourly chart of the BTC/USD pair.

Speedy resistance on the upside is close to the $124,000 stage. The primary key resistance is close to the $124,500 stage. The subsequent resistance might be $125,000. An in depth above the $125,000 resistance may ship the value additional larger. Within the said case, the value might rise and take a look at the $126,250 resistance stage. Any extra beneficial properties may ship the value towards the $127,000 stage. The primary goal might be $128,000.

Are Dips Restricted In BTC?

If Bitcoin fails to rise above the $124,000 resistance zone, it might begin a correction. Speedy help is close to the $122,750 stage. The primary main help is close to the $121,500 stage or the 50% Fib retracement stage of the upward transfer from the $118,971 swing low to the $123,973 excessive.

The subsequent help is now close to the $120,200 zone. Any extra losses may ship the value towards the $118,500 help within the close to time period. The primary help sits at $117,500, beneath which BTC may proceed to maneuver down.

Technical indicators:

Hourly MACD – The MACD is now gaining tempo within the bullish zone.

Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.

Main Assist Ranges – $122,750, adopted by $120,200.

Main Resistance Ranges – $124,000 and $125,000.