{"id":7345,"date":"2025-10-02T04:11:06","date_gmt":"2025-10-02T04:11:06","guid":{"rendered":"https:\/\/bitcotasks.com\/blog\/bitcoin-smashes-past-118k-is-stronger-bullish-momentum-now-set-to-begin\/"},"modified":"2025-10-02T04:11:06","modified_gmt":"2025-10-02T04:11:06","slug":"bitcoin-smashes-past-118k-is-stronger-bullish-momentum-now-set-to-begin","status":"publish","type":"post","link":"https:\/\/bitcotasks.com\/blog\/bitcoin-smashes-past-118k-is-stronger-bullish-momentum-now-set-to-begin\/","title":{"rendered":"Bitcoin Smashes Past $118K \u2013 Is Stronger Bullish Momentum Now Set To Begin?"},"content":{"rendered":"<p><em>Bitcoin price started a strong increase and traded above $118,000. BTC is now consolidating gains and might correct some points in the short term.<\/em><\/p>\n<ul>\n<li>Bitcoin started a major increase above the $116,500 zone.<\/li>\n<li>The price is trading above $117,000 and the 100 hourly Simple moving average.<\/li>\n<li>There is a short-term bullish trend line forming with support at $117,000 on the hourly chart of the BTC\/USD pair (data feed from Kraken).<\/li>\n<li>The pair might continue to move up if it clears the $119,500 zone.<\/li>\n<\/ul>\n<h2>Bitcoin Price Starts Fresh Surge<\/h2>\n<p>Bitcoin price managed to stay above the $115,000 zone and started a fresh increase. BTC settled above the $115,500 resistance zone to start the current move.<\/p>\n<p>The bulls were able to pump the price above the $117,000 and $118,000 levels. The bulls even cleared the $118,800 level. A high was formed at $119,453 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $112,806 swing low to the $119,453 high.<\/p>\n<p>Bitcoin is now trading above $117,000 and the 100 hourly Simple moving average. Besides, there is a short-term bullish trend line forming with support at $117,000 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-830949\" src=\"https:\/\/www.newsbtc.com\/wp-content\/uploads\/2025\/10\/Bitcoin_c1dc4f.png?resize=1024%2C468\" alt=\"Bitcoin Price \" width=\"1024\" height=\"468\" \/><\/p>\n<p>Immediate resistance on the upside is near the $119,000 level. The first key resistance is near the $119,250 level. The next resistance could be $119,500. A close above the $119,500 resistance might send the price further higher. In the stated case, the price could rise and test the $120,500 resistance. Any more gains might send the price toward the $122,500 level. The next barrier for the bulls could be $123,00.<\/p>\n<h2>Pullback In BTC?<\/h2>\n<p>If Bitcoin fails to rise above the $119,500 resistance zone, it could start a fresh decline. Immediate support is near the $117,000 level and the trend line. The first major support is near the $116,150 level.<\/p>\n<p>The next support is now near the $115,500 zone. Any more losses might send the price toward the $114,000 support in the near term. The main support sits at $113,500, below which BTC might struggle to recover in the short term.<\/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 $117,000, followed by $116,150.<\/p>\n<p>Major Resistance Levels \u2013 $119,500 and $120,500.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin price started a strong increase and traded above $118,000. BTC is now consolidating gains and might correct some points in the short term. Bitcoin started a major increase above the $116,500 zone. The price is trading above $117,000 and the 100 hourly Simple moving average. There is a short-term bullish trend line forming with&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7346,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[145],"tags":[65,108,73,70,71,146],"class_list":["post-7345","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\/7345","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=7345"}],"version-history":[{"count":0,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/posts\/7345\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media\/7346"}],"wp:attachment":[{"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/media?parent=7345"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/categories?post=7345"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcotasks.com\/blog\/wp-json\/wp\/v2\/tags?post=7345"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}