{"id":83312,"date":"2025-07-24T02:56:48","date_gmt":"2025-07-24T02:56:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=83312"},"modified":"2025-07-24T02:56:48","modified_gmt":"2025-07-24T02:56:48","slug":"bitcoin-price-aims-fresh-gains-after-consolidation-can-the-rally-resume","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=83312","title":{"rendered":"Bitcoin Price Aims Fresh Gains After Consolidation: Can the Rally Resume?"},"content":{"rendered":"

Bitcoin price is eyeing a fresh increase above the $118,500 resistance. BTC must clear the $120,250 resistance zone to gain bullish momentum in the near term.<\/em><\/p>\n

Bitcoin started a fresh increase after it cleared the $118,000 zone.
\nThe price is trading above $118,600 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $118,200 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 Another Increase<\/h2>\n

Bitcoin price started a correction phase<\/a> from the $120,250 resistance zone. BTC dipped below the $118,500 level and tested the $118,000 zone.<\/p>\n

There was a move below the 50% Fib retracement level of the upward move from the $116,260 swing low to the $120,237 high. However, the bulls were active near the $117,500 support zone. There is also a key bullish trend line forming with support at $118,200 on the hourly chart of the BTC\/USD pair.<\/p>\n

Bitcoin is now trading above $118,600 and the 100 hourly Simple moving average<\/a>. Immediate resistance on the upside is near the $119,300 level. The first key resistance is near the $120,000 level.<\/p>\n

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

The next resistance could be $120,250. A close above the $120,250 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 Decline In BTC?<\/h2>\n

If Bitcoin fails to rise above the $120,250 resistance zone, it could start another decline. Immediate support is near the $118,500 level and the trend line. The first major support is near the $117,200 level or the 76.4% Fib retracement level of the upward move from the $116,260 swing low to the $120,237 high.<\/p>\n

The next support is now near the $116,250 zone. Any more losses might send the price toward the $115,000 support in the near term. The main support sits at $113,500, below which BTC might continue to move down.<\/p>\n

Technical indicators:<\/p>\n

Hourly MACD \u2013 The MACD is now gaining 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 $118,250, followed by $116,250.<\/p>\n

Major Resistance Levels \u2013 $119,250 and $120,250.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is eyeing a fresh increase above the $118,500 resistance. BTC must clear the $120,250 resistance zone to gain bullish momentum in the near term. Bitcoin started a fresh increase after it cleared the $118,000 zone. The price is trading above $118,600 and the 100 hourly Simple moving average. There is a key bullish […]<\/p>\n","protected":false},"author":0,"featured_media":83313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-83312","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\/83312"}],"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=83312"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/83312\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/83313"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=83312"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=83312"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=83312"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}