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    Home»Blockchain»Bitcoin Price Rockets to Record High — Bulls Celebrate Milestone
    Blockchain

    Bitcoin Price Rockets to Record High — Bulls Celebrate Milestone

    Team_SimonCryptoBy Team_SimonCryptoJuly 11, 2025No Comments3 Mins Read
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    Bitcoin worth began a recent improve above the $110,500 zone. BTC is now up over 5%, traded to a brand new excessive, and prolong good points above the $116,000 stage.

    • Bitcoin began a recent improve above the $112,500 zone.
    • The value is buying and selling above $113,500 and the 100 hourly Easy shifting common.
    • There was a break above a bearish pattern line with resistance at $111,000 on the hourly chart of the BTC/USD pair (information feed from Kraken).
    • The pair may proceed to rise if it clears the $116,800 resistance zone.

    Bitcoin Worth Units New ATH

    Bitcoin worth began a fresh increase after it cleared the $110,500 resistance zone. BTC gained tempo for a transfer above the $112,000 and $113,500 resistance.

    Moreover, there was a break above a bearish pattern line with resistance at $111,000 on the hourly chart of the BTC/USD pair. The bulls even pumped the pair above the $115,000 resistance zone. A brand new all-time excessive was shaped at $116,800 and the value is now consolidating good points above the 23.6% Fib retracement stage of the upward transfer from the $110,600 swing low to the $116,800 excessive.

    Bitcoin is now buying and selling above $113,500 and the 100 hourly Simple moving average. Quick resistance on the upside is close to the $116,000 stage. The primary key resistance is close to the $116,200 stage. The subsequent resistance could possibly be $116,800.

    Supply: BTCUSD on TradingView.com

    A detailed above the $116,800 resistance would possibly ship the value additional increased. Within the said case, the value may rise and take a look at the $118,000 resistance stage. Any extra good points would possibly ship the value towards the $118,800 stage. The principle goal could possibly be $120,000.

    Draw back Correction In BTC?

    If Bitcoin fails to rise above the $116,800 resistance zone, it may begin a draw back correction. Quick assist is close to the $115,300 stage. The primary main assist is close to the $113,700 stage or the 50% Fib retracement stage of the upward transfer from the $110,600 swing low to the $116,800 excessive.

    The subsequent assist is now close to the $113,200 zone. Any extra losses would possibly ship the value towards the $112,500 assist within the close to time period. The principle assist sits at $110,500, beneath which BTC would possibly proceed to maneuver down.

    Technical indicators:

    Hourly MACD – The MACD is now gaining tempo within the bullish zone.

    Hourly RSI (Relative Energy Index) – The RSI for BTC/USD is now above the 50 stage.

    Main Assist Ranges – $115,300, adopted by $113,700.

    Main Resistance Ranges – $116,800 and $118,000.



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