Bitcoin Eyes $128K After ATH — $125K Break Could Accelerate Rally
I see Bitcoin breaking to a fresh all-time high near $123,973 and now consolidating above the 100-hour SMA, with a bullish trend line around $120,200. Immediate upside resistance sits at $124,000–$125,000; a decisive break could aim for $126,250 and ultimately $128,000.
Downside appears limited while BTC holds $121,500–$120,200; a failure to clear $124,000 could pull price back to $122,750 or $120,200, with major support near $117,500. Hourly MACD and RSI are bullish, supporting further upside.
I view this as a buy setup: consider adding on strength above $125,000 or on weakness toward $121,500–$120,200, and keep a protective stop below $117,500 to manage risk.
Analysis
Recommendation
Buy on strength above $125,000 or buy on weakness toward $121,500–$120,200. Target $126,250–$128,000 and use a stop below $117,500 to limit downside.
Disclaimer
The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.