Bitcoin Shows Strong Weekly Momentum With Potential for Further Gains, Analysts Suggest
2025-07-14 18:09:36
Main Idea
Bitcoin has shown strong weekly momentum with a 9% gain, supported by technical indicators and bullish market sentiment, with potential for further gains.
Key Points
1. Bitcoin's price surged from approximately $109,231 to over $119,000, reaching a new all-time high above $123,000.
2. Technical indicators like the Relative Strength Index (RSI) at 71 and the Average Directional Index (ADX) at 27 confirm a strong bullish trend.
3. The Crypto Fear & Greed Index is at 72, indicating 'greed' among investors, with prediction markets showing high probabilities of Bitcoin staying above $100,000 and potentially reaching $125,000.
4. Bitcoin's rally is supported by macroeconomic factors, including commodity prices and the S&P 500's performance near record highs.
5. Key support levels are identified at $115,575 and $110,500, with potential upside targets at $126,554 and $134,371 based on Fibonacci extensions.
Description
Bitcoin’s recent 9% weekly surge signals a robust breakout, driven by strong momentum indicators and renewed investor confidence. This rally marks Bitcoin’s strongest weekly performance since May, breaking past key
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