{"id":85168,"date":"2025-07-31T02:58:07","date_gmt":"2025-07-31T02:58:07","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=85168"},"modified":"2025-07-31T02:58:07","modified_gmt":"2025-07-31T02:58:07","slug":"bitcoin-price-sets-sights-on-a-new-climb-momentum-building-again","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=85168","title":{"rendered":"Bitcoin Price Sets Sights on a New Climb \u2013 Momentum Building Again"},"content":{"rendered":"

Bitcoin price is still above the $117,500 support zone. BTC is rising and might attempt to clear the $118,600 resistance zone to gain bullish momentum.<\/em><\/p>\n

Bitcoin started a decent upward move from the $116,000 zone.
\nThe price is trading near $118,500 and the 100 hourly Simple moving average.
\nThere is a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $118,620 resistance zone.<\/p>\n

Bitcoin Price Eyes Upside Break<\/h2>\n

Bitcoin price started a downside correction<\/a> from the $119,796 high. BTC declined below the $119,000 and $118,500 support levels to enter a short-term bearish zone.<\/p>\n

The bears pushed the price below the 50% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The decline gained pace and the price even spiked toward the $116,000 support zone where the bulls appeared.<\/p>\n

They protected the 76.4% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The price is again rising above $118,000. Bitcoin is now trading near $118,500 and the 100 hourly Simple moving average<\/a>.<\/p>\n

Immediate resistance on the upside is near the $118,620 level. There is also a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

The first key resistance is near the $119,200 level. The next resistance could be $119,800. A close above the $119,800 resistance might send the price further higher. In the stated case, the price could rise and test the $120,500 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 $118,620 resistance zone, it could start another decline. Immediate support is near the $117,500 level. The first major support is near the $116,250 level.<\/p>\n

The next support is now near the $116,000 zone. Any more losses might send the price toward the $114,500 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 $117,500, followed by $116,250.<\/p>\n

Major Resistance Levels \u2013 $118,620 and $119,800.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is still above the $117,500 support zone. BTC is rising and might attempt to clear the $118,600 resistance zone to gain bullish momentum. Bitcoin started a decent upward move from the $116,000 zone. The price is trading near $118,500 and the 100 hourly Simple moving average. There is a bearish trend line forming […]<\/p>\n","protected":false},"author":0,"featured_media":85169,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-85168","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\/85168"}],"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=85168"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85168\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/85169"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85168"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85168"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85168"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}