Bitcoin Aims for Weekly Close Above $107,720 to Confirm Bullish Momentum
Bitcoin is at a critical juncture; a weekly close above $107,720 is necessary for bullish momentum. Achieving this could propel BTC towards the $130,000 to $135,000 range in Q3.
Key Points
- A strong weekly close above $107,720 may trigger significant upward movement.
- This level acts as resistance; breaking it could lead to increased bullish activity.
- Historical patterns suggest potential targets around $150,916 by October 2025 if upward trends continue.
- Current support is holding near $106,500; technical indicators show signs of recovery.
- RSI indicates waning selling momentum, while MACD nears a bullish crossover.
- BTC is consolidating within a descending channel on the daily chart, with potential for a breakout toward $120,000.
- Consolidation above recent breakout levels signals a possible continuation towards $135,000.
