Bitcoin Price Consolidates Above $122,000 After Reaching New ATH

Bitcoin is experiencing upward momentum, trading above $121,200 and consolidating before potentially breaking the $124,000 resistance.

BTC has increased above $122,000.
Current price is above $122,000 and the 100-hourly Simple Moving Average.
A bullish trend line supports BTC at $120,200 on the hourly chart.
Further gains may occur if it surpasses the $124,000 resistance.

Bitcoin Price Reaches New All-Time High

Bitcoin established a base over $118,500, leading to gains that pushed prices past $120,000. The new all-time high is approximately $123,973.

BTC is currently trading above $120,000 and the 100-hourly Simple Moving Average, with support from a bullish trend line at $120,200.

Key resistance levels are set around $124,000 and $125,000. A close above $125,000 may see prices rise towards $126,250 and potentially $128,000.

Potential for Dips in BTC

If Bitcoin does not breach the $124,000 resistance, it may face corrections. Immediate support is near $122,750, with major support at $121,500 and $120,200.

Technical indicators show:

MACD is gaining strength in the bullish zone.
RSI for BTC/USD is above 50.
Major support levels: $122,750 and $120,200.
Major resistance levels: $124,000 and $125,000.