Bitcoin is trading near $118,864, representing a +0.74% gain in the past 24 hours. After a sharp rally from below $102,000 earlier this month, BTC is now stabilizing just below the $112k–$113k resistance range. The broader uptrend remains intact, though short-term consolidation appears likely.
In this article, we will look at bitcoin next target with latest news.
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Bitcoin Next Target
- Current Price: $118,864
- 24h Price Change: +0.74% (+$876)
- 24h Range: $117,428 – $119,210
- Market Cap: ~$2.35 trillion
- 24h Trading Volume: ~$40 billion
- Circulating Supply: ~19.88 million BTC
Bullish breakout from Sideways Channel ($100K – $112K), above the $112K resistance, signals resumption of Uptrend. Price is making new ATHs. In this price discovery phase, we used Fibonacci extensions to identify possible price targets (resistance levels): $121K, $128K, $136K.
Technical Overview
- RSI & MACD: Indicators show fading momentum near resistance, signaling potential short-term pause.
- Support Levels:
- ~$109,200–$108,300 — last major consolidation zone
- ~$116,000–$117,000 — current intraday support
- Resistance Levels:
- ~$112,000–$113,000 — initial ceiling
- $120,000 psychological barrier
- Trend: Still within a medium-term bull structure, but poised for a possible sideways correction near resistance.
Latest Bitcoin News & Developments
- ETF Inflows Surge
U.S. spot Bitcoin ETFs recorded $667 million in inflows on May 19—the largest in nearly three weeks. Total ETF capital has passed $50 billion this year, contributing to price stability above $100k. - State-Level Adoption
Texas enacted a Strategic Bitcoin Reserve bill on June 22, becoming the third U.S. state to formally hold crypto reserves—further institutionalizing the asset. - Bullish Outlook from Analysts
Multiple analysts forecast BTC reaching between $200,000 and $250,000 by year-end, citing regulatory clarity, ETF growth, and supply constraints post-halving. - Caution from Investors
Some prominent investors warn of overheated markets, including crypto. However, many remain open to accumulating during dips, anticipating long-term upside.
Outlook & Summary
Bitcoin is consolidating after a strong rally from the low $100k range
- Bull Case: A confirmed move above $112k–$113k resistance could lead to testing $120k, then $125k+.
- Bear Case: A failure to hold the ~$109k zone may trigger a pullback to $107k–$108k, but the mid-term trend remains bullish.
👉 Short-Term Outlook: Neutral to Bullish
📉 Risk Level: Moderate — prepare for consolidation around resistance
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