{"id":6121,"date":"2025-07-31T04:11:07","date_gmt":"2025-07-31T04:11:07","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-sets-sights-on-a-new-climb-momentum-building-again\/"},"modified":"2025-07-31T04:11:07","modified_gmt":"2025-07-31T04:11:07","slug":"bitcoin-price-sets-sights-on-a-new-climb-momentum-building-again","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-price-sets-sights-on-a-new-climb-momentum-building-again\/","title":{"rendered":"Bitcoin Price Sets Sights on a New Climb \u2013 Momentum Building Again"},"content":{"rendered":"<p><em>Bitcoin price is still above the $117,500 support zone. BTC is rising and might attempt to clear the $118,600 resistance zone to gain bullish momentum.<\/em><\/p>\n<ul>\n<li>Bitcoin started a decent upward move from the $116,000 zone.<\/li>\n<li>The price is trading near $118,500 and the 100 hourly Simple moving average.<\/li>\n<li>There is a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might start another increase if it clears the $118,620 resistance zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Eyes Upside Break<\/h2>\n<p>Bitcoin price started a downside correction from the $119,796 high. BTC declined below the $119,000 and $118,500 support levels to enter a short-term bearish zone.<\/p>\n<p>The bears pushed the price below the 50% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The decline gained pace and the price even spiked toward the $116,000 support zone where the bulls appeared.<\/p>\n<p>They protected the 76.4% Fib retracement level of the upward move from the $114,733 swing low to the $119,796 high. The price is again rising above $118,000. Bitcoin is now trading near $118,500 and the 100 hourly Simple moving average.<\/p>\n<p>Immediate resistance on the upside is near the $118,620 level. There is also a bearish trend line forming with resistance at $118,620 on the hourly chart of the BTC\/USD pair.<\/p>\n<p><img decoding=\"async\" data-recalc-dims=\"1\" loading=\"lazy\" class=\"size-full wp-image-796443\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/07\/Bitcoin_21e4e7.png?resize=1024%2C479\" alt=\"Bitcoin Price\" width=\"1024\" height=\"479\" \/><\/p>\n<p>The first key resistance is near the $119,200 level. The next resistance could be $119,800. A close above the $119,800 resistance might send the price further higher. In the stated case, the price could rise and test the $120,500 resistance level. Any more gains might send the price toward the $122,500 level. The main target could be $123,200.<\/p>\n<h2>Another Decline In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $118,620 resistance zone, it could start another decline. Immediate support is near the $117,500 level. The first major support is near the $116,250 level.<\/p>\n<p>The next support is now near the $116,000 zone. Any more losses might send the price toward the $114,500 support in the near term. The main support sits at $113,500, below which BTC might continue to move down.<\/p>\n<p>Technical indicators:<\/p>\n<p>Hourly MACD \u2013 The MACD is now gaining pace in the bullish zone.<\/p>\n<p>Hourly RSI (Relative Strength Index) \u2013 The RSI for BTC\/USD is now above the 50 level.<\/p>\n<p>Major Support Levels \u2013 $117,500, followed by $116,250.<\/p>\n<p>Major Resistance Levels \u2013 $118,620 and $119,800.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price is still above the $117,500 support zone. BTC is rising and might attempt to clear the $118,600 resistance zone to gain bullish momentum. Bitcoin started a decent upward move from the $116,000 zone. The price is trading near $118,500 and the 100 hourly Simple moving average. There is a bearish trend line forming&hellip;<\/p>\n","protected":false},"author":1,"featured_media":6122,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-6121","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-btc","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-btcusdt","tag-xbtusd"],"_links":{"self":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6121","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/comments?post=6121"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/6121\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/6122"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=6121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=6121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=6121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}