Bitcoin Shows Potential for Breakout Toward $121,000 Resistance Amid Strong Volume and Momentum

Key Points

1. Bitcoin broke above the key resistance level of $115,966, signaling bullish momentum and potential further gains.

2. Analysts identify $118,000 and $121,000 as critical resistance levels that could determine Bitcoin's next price direction.

3. Technical indicators like RSI and MACD confirm a short-term trend reversal, supporting the bullish outlook.

4. Market sentiment remains positive, with the Fear & Greed Index at 65 (greed zone) and Bitcoin gaining 8.13% in July, aligning with post-halving trends.

5. A sustained breakout could pave the way for higher targets, with a long-term potential of $172,000 if momentum continues.