{"id":86886,"date":"2025-08-08T02:21:16","date_gmt":"2025-08-08T02:21:16","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=86886"},"modified":"2025-08-08T02:21:16","modified_gmt":"2025-08-08T02:21:16","slug":"bitcoin-price-roars-awake-120k-within-striking-distance","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=86886","title":{"rendered":"Bitcoin Price Roars Awake \u2013 $120K Within Striking Distance"},"content":{"rendered":"

Bitcoin price is again rising above the $115,500 zone. BTC is now consolidating and might aim for a move toward the $120,000 resistance zone.<\/em><\/p>\n

Bitcoin started a fresh increase above the $115,500 zone.
\nThe price is trading above $115,500 and the 100 hourly Simple moving average.
\nThere is a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC\/USD pair (data feed from Kraken).
\nThe pair might start another increase if it clears the $117,500 resistance zone.<\/p>\n

Bitcoin Price Aims Higher<\/h2>\n

Bitcoin price found support near the $112,200 zone and started a fresh increase<\/a>. BTC was able to climb above the $113,500 and $114,800 resistance levels.<\/p>\n

The price even cleared the $115,500 resistance to move into a positive zone. Finally, the price tested the $117,500 resistance zone. A high was formed at $117,643 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high.<\/p>\n

Bitcoin is now trading above $115,000 and the 100 hourly Simple moving average<\/a>. There is also a key bullish trend line forming with support at $115,600 on the hourly chart of the BTC\/USD pair.<\/p>\n

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

Immediate resistance on the upside is near the $117,200 level. The first key resistance is near the $117,500 level. The next resistance could be $118,250. A close above the $118,250 resistance might send the price further higher. In the stated case, the price could rise and test the $119,200 resistance level. Any more gains might send the price toward the $120,000 level. The main target could be $121,500.<\/p>\n

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

If Bitcoin fails to rise above the $117,500 resistance zone, it could start another decline. Immediate support is near the $116,450 level. The first major support is near the $115,600 level and the trend line.<\/p>\n

The next support is now near the $114,550 zone or the 61.8% Fib retracement level of the upward move from the $112,629 swing low to the $116,643 high. Any more losses might send the price toward the $113,800 support in the near term. The main support sits at $112,500, 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 $115,600, followed by $114,550.<\/p>\n

Major Resistance Levels \u2013 $117,500 and $118,250.<\/p>","protected":false},"excerpt":{"rendered":"

Bitcoin price is again rising above the $115,500 zone. BTC is now consolidating and might aim for a move toward the $120,000 resistance zone. Bitcoin started a fresh increase above the $115,500 zone. The price is trading above $115,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with […]<\/p>\n","protected":false},"author":0,"featured_media":86887,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-86886","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\/86886"}],"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=86886"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/86886\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/86887"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=86886"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=86886"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=86886"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}