Why Bitcoin will slingshot to $130,000 by August
Bitcoin’s (BTC) technical indicators suggest the maiden digital currency is likely to hit a new all-time high of around $130,000 in the coming weeks. This comes as Bitcoin attempts to reclaim the $110,000 level, which has acted as a major resistance point in recent sessions. As of press time, BTC was trading at $108,118, up 0.5% in the past 24 hours and nearly 1% over the past week. Bitcoin seven-day price chart. Source: Finbold For the price outlook, Analysis by TradingShot , in a TradingView post on July 5, highlighted that Bitcoin is flashing a strong bullish signal after completing a golden cross on the four-hour chart. The cryptocurrency is now holding above its four-hour 50-period moving average (MA), a key support level that, if maintained, could fuel a sharp rally. According to TradingShot, the current setup mirrors Bitcoin’s April–May rally, when a similar channel up pattern peaked near the 2.618 Fibonacci extension. The fractal shows the same serie...