CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

Finbold 2025-07-05 20:38:45

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 series of lower highs, eventually broken by a strong upward move. Bitcoin price analysis chart. Source: TradingView The analysis suggests Bitcoin is testing its final resistance, similar to the April 21 breakout. If the pattern holds, TradingShot projects BTC could reach $130,000 by early August, aligning with the 2.618 Fibonacci level. Bitcoin’s key price levels to watch On the other hand, analysis by Ali Martinez in an X post on July 5 identified key price levels to watch. He noted that investors should keep an eye on $106,738 and $98,566. This is based on the latest In/Out of the Money Around Price analysis, which shows strong buyer interest concentrated in these two ranges, where significant numbers of addresses previously accumulated BTC. In/Out of the Money Around Price. Source/ Ali Charts Currently, Bitcoin trades around $108,000, with approximately 1.64 million addresses holding positions at or near $106,738. Below that, another cluster of 1.71 million addresses is positioned near $98,566, providing additional support. On-chain data shows 89.36% of BTC holders are still “in the money,” highlighting resilience despite volatility, while just 10.36% are underwater. If Bitcoin falls further, two key demand zones could help cushion the downside and spark a rebound. Featured image via Shutterstock The post Why Bitcoin will slingshot to $130,000 by August appeared first on Finbold .

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.