Bitcoin Price Watch: Bulls Target $120K Amid Strong Technical Breakout
2025-07-11 12:01:13
Main Idea
Bitcoin's price shows a strong bullish trend with potential to reach $120K, supported by technical indicators and trading patterns.
Key Points
1. Bitcoin traded between $117,705 and $118,091, with a market cap of $2.34 trillion and 24-hour trading volume at $81.33 billion.
2. A breakout above $112,000 resistance is supported by persistent buying interest, with current resistance near $119,000.
3. Technical charts (1-day, 4-hour, and 1-hour) indicate bullish momentum, with potential entry points at $115,000-$116,000 or a breakout above $118,800.
4. Key indicators like RSI (74), CCI (291), and MACD (2,184) suggest strong bullish trends, though overbought conditions may trigger short-term pullbacks.
5. Major moving averages (EMAs and SMAs) across multiple timeframes confirm the bullish trend, with layered support levels in case of a broader pullback.
Description
Bitcoin traded in a tight band between $117,705 and $118,091 over the last hour, as bullish momentum continues to ripple through the crypto market. The leading cryptocurrency holds a market cap of $2.34 trillion, with 24-hour trading volume at $81.33 billion and an intraday price range between $110,768 and $118,839, highlighting a broad and volatile
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