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Current Price: Approximately $118,800
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1. Price Action:
BTC is trading near its all-time high of about $123,000.
The intraday price range has been roughly between $118,300 and $122,200.
This proximity to the ATH (All-Time High) suggests strong bullish momentum.
2. Support and Resistance:
Support Level: Around $118,000 — a crucial price floor where buyers tend to step in.
Resistance Level: Around $122,000 — the price level BTC needs to break to continue rallying.
3. Market Sentiment:
Positive regulatory developments, such as moves to include crypto ETFs in pension funds, are boosting confidence.
Large investors (“whales”) are actively buying, which supports upward price pressure.
4. Future Outlook:
Short-term target: If BTC breaks above $122,000 resistance, the next potential target could be around $127,000.
Long-term potential: If BTC continues historic growth cycles, it could reach as high as $340,000 in the future, following a potential 2,100% increase like previous cycles.