Bitcoin (BTC) technology metrics suggest that the maiden’s digital currency is likely to reach a new all-time high of around $130,000 in the coming weeks.
This served as a major point of resistance in recent sessions as Bitcoin attempts to regain the $110,000 level. As of press time, BTC had grown by 0.5% over the past 24 hours and was trading at $108,118, up almost 1% over the past week.
Analyses on price outlook Trade shota TradingView Posted on July 5th to highlight that Bitcoin is flashing a strong bull signal after completing the Golden Cross on the four-hour chart.
Cryptocurrency is currently above the 4-hour 50-period moving average (MA). This is the main level of support that can promote sharp rallies if maintained.
According to Trade shot, The current setup reflects Bitcoin’s April and May gatherings. This is when a similar channel up pattern peaks near the 2.618 Fibonacci expansion. The fractals show the same series at the same bottom and are ultimately broken by strong upward movement.
The analysis suggests that Bitcoin is testing its final resistance, similar to its April 21 breakout. If the pattern is retained, Tradingshot Project BTC will reach $130,000 by early August and will work with the 2.618 Fibonacci level.
Key Bitcoin price levels to watch
Meanwhile, in the X post on July 5th, an analysis by Ali Martinez identified the key price levels to watch. He noted that investors should pay attention to $106,738 and $98,566.
This is based on the latest In/Out of The Price Analysis on price analysis. This shows the interest of strong buyers who are focused on these two ranges.
Currently, Bitcoin trades around $108,000, with approximately 1.64 million addresses in positions below $106,738. Beneath it, another cluster of 1.71 million addresses is located near $98,566, providing additional support.
On-chain data shows that 89.36% of BTC holders are still “money,” highlighting resilience despite volatility, while only 10.36% are underwater. As Bitcoin drops further, two key demand zones will help ease the downside and cause rebounds.
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