#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 Blofin, Toobit and BingX and trade with me: 👇
toobit.com/t/CryptoMojo
partner.blofin.com/d/Cryptomojo
bingx.com/invite/WKCI5X/
Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
toobit.com/t/CryptoMojo
partner.blofin.com/d/Cryptomojo
bingx.com/invite/WKCI5X/
Free TG Daily Futures Signals: 👉 t.me/CRYPTOMOJO_TA
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.