Bitcoin Shows Potential for Further Gains Amid Key Resistance and Support Levels, Analysts Suggest
2025-07-16 15:23:37
Main Idea
Bitcoin's price momentum remains strong with potential for further gains, supported by key resistance and support levels, despite reaching a new all-time high.
Key Points
1. Bitcoin reached a new all-time high near $122,000, but comprehensive market tops have yet to manifest, suggesting further rally potential.
2. Key resistance levels are identified at $124,000 and $136,000, where profit-taking historically intensifies and unrealized profits may trigger corrections.
3. Critical support levels include $101,000, with intermediate supports at $111,000 and $113,000, underpinning Bitcoin's medium-term bullish structure.
4. Onchain metrics, such as the realized cap-UTXO age bands, show reduced short-term holder activity (around 5%) compared to previous peak periods (14%), indicating a less overheated market.
5. The MVRV Z-Score and dynamic support near the 200-day EMA (between $113,700 and $115,300) reinforce Bitcoin's resilience against downside risks.
Description
Bitcoin’s recent surge to a $122,000 all-time high signals strong momentum, yet onchain metrics indicate the market is far from overheating, suggesting further upside potential. Key resistance levels between $124,000
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