Bitcoin Price Could Advance to $118,500–$120,000 If Bulls Hold Near $117,865

• BTC/USD has an immediate resistance at $117,865—daily close above may push prices higher.

• All top-10 cryptocurrencies are in the green today per CoinStats; market breadth favors continuation.

• Midterm trend remains bullish: Bitcoin has risen three weeks in a row with likely sideways trading between $115,000–$120,000.

Bitcoin price update: BTC/USD trades at $117,354 with $117,865 resistance—watch daily close for breakout. Read market outlook and key levels.

What is the Bitcoin price outlook today?

Bitcoin price is trading at $117,354 and shows bullish momentum on hourly and daily charts. A clear daily close above the immediate resistance at $117,865 would likely open a path to $118,500–$120,000, while failure to hold could trigger consolidation around $115,000.

How does BTC/USD resistance at $117,865 affect short-term moves?

Immediate resistance at $117,865 is a key marker on the hourly chart. If bulls secure a daily close above that level, momentum indicators and recent higher time-frame structure suggest a low-risk move toward $118,500. Conversely, rejection could favor sideways trading between $115,000 and $117,000.

All coins from the top 10 list are in the green zone today, according to CoinStats.

Top coins by CoinStats 

Why are top coins moving higher today?

Broad market strength is supporting gains across large-cap altcoins. Positive on-chain flows, renewed institutional interest (reported by market sources in industry briefs), and improved risk appetite have contributed to the uptick. Market sentiment indicators remain cautiously optimistic.

BTC/USD

The price of Bitcoin (BTC) has risen by 0.74% over the past day.

Image by TradingView

On the hourly chart, the rate of BTC has set a local resistance of $117,865. If the daily bar closes near that mark, growth may continue to the $118,500 mark.

Image by TradingView

On the longer time frame, the price of the main crypto is also more bullish than bearish. Short-term moving averages are sloping upward and volume profiles show accumulation zones near current prices.

If bulls can hold the gained initiative, the accumulated energy might be enough for a move to the $119,000–$120,000 range.

Image by TradingView

From the midterm point of view, the rate of BTC keeps rising for the third week in a row. However, the price is far from the key levels, which means the coin might need more time to gather energy for a further sharp move. In this regard, sideways trading in the zone of $115,000–$120,000 is the most likely scenario.

Bitcoin is trading at $117,354 at press time.

Frequently Asked Questions

What key levels should traders watch for BTC today?

Watch immediate resistance at $117,865 and support near $115,000. A daily close above resistance targets $118,500–$120,000; failure to hold support may resume consolidation or a deeper pullback toward $112,000.

How likely is a breakout above $118,000 this week?

Given the current bullish momentum and accumulation, a breakout is possible if volumes increase and the daily close confirms above $117,865. Market breadth and macro conditions should be monitored for confirmation.

Key Takeaways

• Immediate resistance at $117,865: Daily close above could accelerate gains to $118,500–$120,000.
• Market breadth is positive: Top-10 coins are broadly green, supporting BTC strength.
• Midterm outlook: Three-week rise suggests bullish bias, but sideways consolidation between $115,000–$120,000 is likely before a decisive trend continuation.

Conclusion

This update shows Bitcoin price maintaining a constructive stance with a clear short-term resistance at $117,865. Traders should monitor daily closes and volume to confirm breakouts. COINOTAG will continue tracking price action and reporting updates as new data becomes available.