📊 Market Overview:
Bitcoin is currently trading around $119,100, after reaching a peak of $122,242 in yesterday’s session. This price surge is supported by President Trump’s executive order establishing the National Bitcoin Reserve, along with strong buying demand from corporations and ETF funds.
📉 Technical Analysis:
• Key Resistance: $122,000 – $123,000
• Nearest Support: $118,000 – $118,500
• EMA09: Price is currently above the EMA09 on the H1 timeframe → short-term uptrend is maintained.
• Candlestick Pattern: Strong bullish momentum with long green candles; RSI above 70 indicates a possible short-term correction.
📌 Outlook:
Bitcoin may continue to rise if it holds above the $118,000 support level and no negative news emerges. However, caution is advised as RSI remains above 70, signaling potential short-term pullback.
💡 Suggested Trading Strategy:
BUY Bitcoin/USD at: $118,500 – $118,000
🎯 TP: $120,000 – $122,000
❌ SL: $117,500
SELL Bitcoin/USD at: $122,000 – $123,000
🎯 TP: $120,000
❌ SL: $123,500
Bitcoin is currently trading around $119,100, after reaching a peak of $122,242 in yesterday’s session. This price surge is supported by President Trump’s executive order establishing the National Bitcoin Reserve, along with strong buying demand from corporations and ETF funds.
📉 Technical Analysis:
• Key Resistance: $122,000 – $123,000
• Nearest Support: $118,000 – $118,500
• EMA09: Price is currently above the EMA09 on the H1 timeframe → short-term uptrend is maintained.
• Candlestick Pattern: Strong bullish momentum with long green candles; RSI above 70 indicates a possible short-term correction.
📌 Outlook:
Bitcoin may continue to rise if it holds above the $118,000 support level and no negative news emerges. However, caution is advised as RSI remains above 70, signaling potential short-term pullback.
💡 Suggested Trading Strategy:
BUY Bitcoin/USD at: $118,500 – $118,000
🎯 TP: $120,000 – $122,000
❌ SL: $117,500
SELL Bitcoin/USD at: $122,000 – $123,000
🎯 TP: $120,000
❌ SL: $123,500
Trade active
Bitcoin may continue to edge higher if it holds above support at $118,863 and institutional demand remains strong. However, failure to clear resistance around $120,880–$121,580 may prompt a mild pullback toward $118,863 or deeper toward $117,500.Trade closed: target reached
BTC new ATH
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📊 Forex | Gold | Crypto Market Insights & Signals
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
📰 Real-time news updates & expert analysis
📈 Daily Buy/Sell signals for investors
💡 Technical breakdowns & market outlooks
🔗 Join our free group: t.me/+DmS-dVFJMm40MDM9
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.