{"id":5914,"date":"2025-07-18T05:00:26","date_gmt":"2025-07-18T05:00:26","guid":{"rendered":"https:\/\/ad-doge.com\/blog\/bitcoin-price-eyes-123k-explosion-traders-brace-for-breakout\/"},"modified":"2025-07-18T05:00:26","modified_gmt":"2025-07-18T05:00:26","slug":"bitcoin-price-eyes-123k-explosion-traders-brace-for-breakout","status":"publish","type":"post","link":"https:\/\/ad-doge.com\/blog\/bitcoin-price-eyes-123k-explosion-traders-brace-for-breakout\/","title":{"rendered":"Bitcoin Price Eyes $123K Explosion\u2014Traders Brace for Breakout"},"content":{"rendered":"<p><em>Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might attempt a steady move toward the $125,000 zone.<\/em><\/p>\n<ul>\n<li>Bitcoin started a fresh increase from the $115,800 zone.<\/li>\n<li>The price is trading above $119,000 and the 100 hourly Simple moving average.<\/li>\n<li>There was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start another increase if it clears the $120,500 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Fresh Upward Move<\/h2>\n<p>Bitcoin price started a correction from the new high at $123,200. BTC dipped below the $120,000 level and tested the $115,500 zone.<\/p>\n<p>A low was formed at $115,730 and the price is now attempting a fresh increase. The bulls were above to push the price above the $118,000 and $118,500 resistance levels. There was a move above the 50% Fib retracement level of the move from the $123,140 swing high to the $115,730 low.<\/p>\n<p>Besides, there was a break above a bearish trend line with resistance at $119,000 on the hourly chart of the BTC\/USD pair. Bitcoin is now trading above $119,500 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $120,200 level. The first key resistance is near the $121,400 level. It is close to the 76.4% Fib retracement level of the move from the $123,140 swing high to the $115,730 low. The next resistance could be $123,150.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-790421\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/07\/Bitcoin_9d7ff3.png?resize=1024%2C479\" alt=\"Bitcoin Price\" width=\"1024\" height=\"479\" \/><\/p>\n<p>A close above the $123,150 resistance might send the price further higher. In the stated case, the price could rise and test the $124,200 resistance level. Any more gains might send the price toward the $125,000 level. The main target could be $126,200.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $121,400 resistance zone, it could start another decline. Immediate support is near the $119,000 level and the 100 hourly SMA. The first major support is near the $117,500 level.<\/p>\n<p>The next support is now near the $115,500 zone. Any more losses might send the price toward the $113,500 support in the near term. The main support sits at $110,500, below which BTC might continue to move down.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now losing pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $117,500, followed by $115,500.<\/p>\n<p>Major Resistance Levels \u2013 $121,400 and $123,150.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is attempting a fresh increase above $120,000. BTC is now consolidating and might attempt a steady move toward the $125,000 zone. Bitcoin started a fresh increase from the $115,800 zone. The price is trading above $119,000 and the 100 hourly Simple moving average. There was a break above a bearish trend line with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":5915,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[142],"tags":[22,29,32,35,36,154],"class_list":["post-5914","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/5914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/comments?post=5914"}],"version-history":[{"count":0,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/posts\/5914\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media\/5915"}],"wp:attachment":[{"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/media?parent=5914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/categories?post=5914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ad-doge.com\/blog\/wp-json\/wp\/v2\/tags?post=5914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}