Bitcoin Steadies After Rally – Is Another Powerful Breakout Just Ahead? 📈
Bitcoin price has rallied, surpassing $124,000 and is now consolidating its gains. The cryptocurrency started a significant surge above $123,500 and is trading over $122,000, maintained by the 100 hourly Simple moving average. A short-term bullish trend line presents support at $123,000 for the BTC/USD pair.
The digital asset is poised for a fresh rally if it breaches the $124,500 zone, with key resistance levels at $124,500 and potentially $125,500. Closing above these could push the price to $126,500 and further to $128,000 or even $130,000. However, if Bitcoin fails to surge past $124,500, a downside correction may occur, with support levels at $123,000, $122,250, and a major support at $118,500.
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