#BTC UPDATE
#Bitcoin has printed a new weekly high, confirming the ongoing strength of the broader uptrend. Both the 21 EMA (yellow) and the 55 EMA (green) are trending upward, indicating that medium-term momentum remains bullish.
The key structural level to focus on is the former weekly resistance around $120,000, which Bitcoin has successfully broken above. As long as the price holds above this level on a closing basis, the bullish bias will remain intact.
If the breakout holds, the next potential target lies in the mid-$130K range.
However, if Bitcoin closes below $120,000, the move would be neutralized, potentially opening the door for a retest of the EMAs in the $112K–$114K zone.
For now, both the trend structure and EMAs suggest that the continuation of this bullish trend is likely.
#Bitcoin has printed a new weekly high, confirming the ongoing strength of the broader uptrend. Both the 21 EMA (yellow) and the 55 EMA (green) are trending upward, indicating that medium-term momentum remains bullish.
The key structural level to focus on is the former weekly resistance around $120,000, which Bitcoin has successfully broken above. As long as the price holds above this level on a closing basis, the bullish bias will remain intact.
If the breakout holds, the next potential target lies in the mid-$130K range.
However, if Bitcoin closes below $120,000, the move would be neutralized, potentially opening the door for a retest of the EMAs in the $112K–$114K zone.
For now, both the trend structure and EMAs suggest that the continuation of this bullish trend is likely.
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Register on weex and trade with me: 👇
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Get CRYPTOMOJO premium for free 👉 ple8x3.s.gy/CRYPTOMOJO
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