Bitcoin’s been on a bit of a roll lately, climbing back above $115,000. It even briefly touched $117,000 on August 8th, fueled by some positive news in the US. President Trump’s executive order allowing crypto investments in 401(k) plans gave the market a boost. But can it reach its all-time high again?
$118,000: The Make-or-Break Point?
Crypto analyst Titan of Crypto thinks Bitcoin could be heading back towards its record high of around $122,800. They point to several factors:
- Upward Trend: Bitcoin’s been climbing since April 2025.
- Filled Fair Value Gap (FVG): A price gap has been closed, often a sign of continued momentum.
- Technical Indicators: Bitcoin has moved above the Tenkan-sen (a short-term indicator), showing positive momentum.
However, there’s a hurdle: the Kijun-sen (around $118,000). This is a key support/resistance level. Breaking above it would be a strong signal that the bull run is back on. Another positive sign is the Chikou Span (a lagging indicator) remaining in bullish territory.
Bitcoin’s Current State
Right now, Bitcoin is hovering around $116,880, relatively flat in the last 24 hours. But don’t let that fool you – it’s up over 3% for the week.
