{"id":81826,"date":"2025-07-18T02:33:05","date_gmt":"2025-07-18T02:33:05","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=81826"},"modified":"2025-07-18T02:33:05","modified_gmt":"2025-07-18T02:33:05","slug":"bitcoin-price-eyes-123k-explosion-traders-brace-for-breakout","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=81826","title":{"rendered":"Bitcoin Price Eyes $123K Explosion\u2014Traders Brace for Breakout"},"content":{"rendered":"

Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might attempt a steady move toward the $125,000 zone.<\/em><\/p>\n

Bitcoin started a fresh increase from the $115,800 zone.
\nThe price is trading above $119,000 and the 100 hourly Simple moving average.
\nThere was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $120,500 resistance zone.<\/p>\n

Bitcoin Price Eyes Fresh Upward Move<\/h2>\n

Bitcoin price started a correction<\/a> from the new high at $123,200. BTC dipped below the $120,000 level and tested the $115,500 zone.<\/p>\n

A low was formed at $115,730 and the price is now attempting a fresh increase. The bulls were above to push the price above the $118,000 and $118,500 resistance levels. There was a move above the 50% Fib retracement level of the move from the $123,140 swing high to the $115,730 low.<\/p>\n

Besides, there was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $119,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance on the upside is near the $120,200 level. The first key resistance is near the $121,400 level. It is close to the 76.4% Fib retracement level of the move from the $123,140 swing high to the $115,730 low. The next resistance could be $123,150.<\/p>\n

<\/a><\/p>\n

A close above the $123,150 resistance might send the price further higher. In the stated case, the price could rise and test the $124,200 resistance level. Any more gains might send the price toward the $125,000 level. The main target could be $126,200.<\/p>\n

Another Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $121,400 resistance zone, it could start another decline. Immediate support is near the $119,000 level and the 100 hourly SMA. The first major support is near the $117,500 level.<\/p>\n

The next support is now near the $115,500 zone. Any more losses might send the price toward the $113,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n

Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n

Major Support Levels \u2013 $117,500, followed by $115,500.<\/p>\n

Major Resistance Levels \u2013 $121,400 and $123,150.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might attempt a steady move toward the $125,000 zone. Bitcoin started a fresh increase from the $115,800 zone. The price is trading above $119,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with […]<\/p>\n","protected":false},"author":0,"featured_media":81827,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-81826","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/81826"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=81826"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/81826\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/81827"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=81826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=81826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=81826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}