Bitcoin Faces Resistance at $118,000 Amid Upward Trend
- Bitcoin price is moving higher above $116,650.
- BTC faces resistance near the $117,850 and $118,000 levels.
- Key support levels are at $116,550 and $115,800.
- A bullish trend line supports BTC at the $115,800 level on the hourly chart.
- Immediate resistance is near the $117,500 level with potential gains up to $119,250 if surpassed.
Bitcoin’s price is currently trading above key support levels as it attempts to break through significant resistance zones around $118,000. Overcoming these barriers could lead to further gains for BTC in the short term.
With a current upward trajectory supported by a bullish trend line at $115,800, Bitcoin may see increased momentum if it surpasses the critical resistance of $118,000. (Source)
