{"id":82997,"date":"2025-07-23T02:54:25","date_gmt":"2025-07-23T02:54:25","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=82997"},"modified":"2025-07-23T02:54:25","modified_gmt":"2025-07-23T02:54:25","slug":"bitcoin-price-sets-up-for-another-move-can-the-bulls-seal-the-deal","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=82997","title":{"rendered":"Bitcoin Price Sets Up for Another Move\u2014Can the Bulls Seal the Deal?"},"content":{"rendered":"

Bitcoin price is eyeing a fresh increase above the $118,000 resistance. BTC must clear the $120,000 resistance zone to continue higher in the near term.<\/em><\/p>\n

Bitcoin started a fresh increase after it cleared the $118,000 zone.
\nThe price is trading above $118,500 and the 100 hourly Simple moving average.
\nThere was a break above a bearish trend line with resistance at $118,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $120,000 resistance zone.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price started a correction phase<\/a> below the $118,500 support zone. BTC dipped below the $118,000 level and tested the $116,200 zone.<\/p>\n

A low was formed at $116,260 and the price started another increase. There was a decent move above the $118,000 and $118,500 levels. Besides, there was a break above a bearish trend line with resistance at $118,000 on the hourly chart of the BTC\/USD pair.<\/p>\n

However, the pair struggled to surpass the $120,000 resistance zone<\/a>. A high was formed near $120,237 and the price is now consolidating gains near the 23.6% Fib retracement level of the upward move from the $116,260 swing low to the $120,237 high.<\/p>\n

Bitcoin is now trading above $118,500 and the 100 hourly Simple moving average. Immediate resistance on the upside is near the $119,800 level. The first key resistance is near the $120,200 level.<\/p>\n

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

The next resistance could be $121,000. A close above the $121,000 resistance might send the price further higher. In the stated case, the price could rise and test the $122,500 resistance level. Any more gains might send the price toward the $122,500 level. The main target could be $123,200.<\/p>\n

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

If Bitcoin fails to rise above the $120,200 resistance zone, it could start another decline. Immediate support is near the $119,200 level. The first major support is near the $118,500 level.<\/p>\n

The next support is now near the $118,200 zone. Any more losses might send the price toward the $116,500 support in the near term. The main support sits at $115,000, 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 $119,200, followed by $118,500.<\/p>\n

Major Resistance Levels \u2013 $120,200 and $121,000.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is eyeing a fresh increase above the $118,000 resistance. BTC must clear the $120,000 resistance zone to continue higher in the near term. Bitcoin started a fresh increase after it cleared the $118,000 zone. The price is trading above $118,500 and the 100 hourly Simple moving average. There was a break above a […]<\/p>\n","protected":false},"author":0,"featured_media":82998,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-82997","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\/82997"}],"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=82997"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/82997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/82998"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=82997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=82997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=82997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}