Will Bitcoin Break Free or Tumble Back? Discover the Rollercoaster Ride Ahead! 🎢

by

Key point:

  • Ah, the grand spectacle of Bitcoin finds itself in a dance with selling waves near the fabled $120,000 threshold, hinting at a rather casual phase of consolidation.

Bitcoin (BTC) is taking a leisurely stroll, like a bored cowboy on the range, gun at the ready but not much firing going on. At least the bulls haven’t completely scuttled off into the sunset. It seems they’re holding their ground, like a stubborn mule, waiting for the moment when the winds of fortune favor them again.

Now, one might raise an eyebrow: US-based BTC exchange-traded funds have seen a staggering $799.4 million rush in on Wednesday alone! That’s ten days of dollars pouring in, like a river swollen with spring rain, all adding up to a hefty total of over $5.2 billion since the summer began its lazy embrace.

But will the bullish sunrise truly break through the clouds? What numbers should we keep our eyes peeled for while we munch on popcorn? Let’s take a gander at the charts and see what secrets lie there.

BTC price prediction

On the quest for upward glory, buyers made their spirited attempt to wrangle back the upward momentum on Wednesday. However, behold the long wick of the candlestick—a telltale sign that bears were notionally slapped awake, fiercely guarding the $120,000 bastion.

If the brave bulls keep face-planting against the $120,000 wall, we might find ourselves on a slippery downhill path, spiraling toward the cozy embrace of the 20-day exponential moving average around $113,528. Should that lifebuoy hold, our four-footed friends will make another charge against the $120,000 to $123,218 fortress. Conquer that, and we might just set our sights towards a spirited jaunt to $135,729 and beyond, all while throwing a party at the mystical $150,000 mark.

Now, if the bears manage to yank the whole shebang below $110,530? Oh dear! We might see the price take a nosedive to the humble town of $105,000.

The 20-EMA has taken a break, sitting flat like a pancake, with the relative strength index (RSI) barely clinging above the midway point in a lowly 4-hour chatty session, suggesting we might be inching toward the sweet, sweet embrace of indecisiveness. Picture this: the pair might just loiter between $115,000 and $123,218 for a spell, like lost travelers in a quiet town, unsure of whether to turn left or right.

If fate takes a nasty turn and the price tumbles below $115,000, we might as well pack our bags for a ride down to the neckline and snug up against that sturdy $110,530. The buyers, our audacious band of heroes, are expected to rally fiercely to protect their territory there, as a slip beyond that may tip the scales back in favor of the bears.

The first flutter of bullish hope will be a break above $120,064. If that happens, we might then venture back to test the lofty all-time high at $123,218, seeing if it’s still standing tall amidst the chaos.

Read More

2025-07-17 21:40