Today, Bitcoin (BTC) reaffirms its status by reaching an all-time high of $119,319. Discussions are focused on potential trends and technical aspects of this cryptocurrency's further movement in the market.
New All-Time High for Bitcoin
Today, Bitcoin reached a new all-time high of $119,319.84, occurring just days after breaking the $118,000 mark. Currently, Bitcoin's price hovers around $119,336.27, representing a daily gain of 1.49%.
Technical Indicators Analysis
Technical indicators suggest a continued upward trend. The price established new highs and maintains strong momentum above $117,000. Immediate resistance sits at $120,000, a level that may invite selling pressure. The Relative Strength Index (RSI) is noted at 75.23, indicating enhanced positive dynamics.
Near-Term Prospects and Support
If Bitcoin breaks through the $120,000 mark, the next target lies at approximately $123,500. However, support is visible at $116,800, which has previously served as a reliable floor during retracements. The Chaikin Money Flow (CMF) remains in positive territory, confirming strong capital inflow.
Bitcoin's rise to a new record of $119,319 confirms the bullish trend in the cryptocurrency market. Monitoring the upcoming support and resistance levels will be crucial for further analysis.
