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.

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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.

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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.

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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.

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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.

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