Bitcoin’s next 3 price levels to watch after record high
2025-07-14 13:45:13
Main Idea
Bitcoin's price surged to a new all-time high above $123,000, driven by a breakout from a key resistance level, with analysts predicting further gains and identifying critical price targets.
Key Points
1. Bitcoin broke past the crucial resistance zone near $113,000, confirming a bullish trend that has been forming since April.
2. Analyst Ali Martinez noted that the $123,000 peak was the first major upside target, with further targets at $131,000, $144,000, and $158,000.
3. Ted Pillows predicted Bitcoin could reach $125,000 within days, citing a Wyckoff accumulation pattern and critical resistance at that level.
4. At press time, Bitcoin was trading at $121,797, up over 3% in 24 hours, with strong short-term trends indicated by the 50-day SMA at $107,362 and the 200-day SMA at $88,660.
5. The 14-day Relative Strength Index (RSI) was at 74.77, suggesting Bitcoin might be overbought.
Description
After hitting a new all-time high above $123,000, a cryptocurrency trading analyst has identified three key price levels that could help Bitcoin sustain its upward momentum. According to Ali Martinez, the current bull run was fueled by Bitcoin breaking out of a months-long parallel trading channel, a move that sets the stage for further gains, he said in an X post on July 14. Bitcoin price analysis chart. Source: TradingView Martinez explained that the breakout represents a major shift in market...
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