BTCUSD Pair Is Displaying a Strong Upward Trajectory

The BTCUSD pair is displaying a strong upward trajectory, supported by favorable indicator alignment and sustained momentum in market sentiment. Technically, the market recently rebounded from the $108,640 zone, which coincides with the 1.0 Fibonacci extension level. The breakout above the $117,470 midpoint Fibonacci retracement signaled a shift from consolidation to renewed upside momentum. Following this move, BTCUSD briefly touched resistance near $124,530 before retracing slightly toward the moving average. The retracement remains shallow and healthy, suggesting a continuation phase rather than exhaustion. The recent price behavior also indicates that bulls are maintaining control as higher lows continue to build structural strength along the ascending trendline that originated from mid-September.

Forecasting forward, BTCUSD appears well-positioned to extend its rally toward $126,300 and potentially $130,000 if bullish volume remains consistent. The key support levels are now seen near $118,000 and $112,400, where potential buying interest is expected to reemerge should a temporary correction occur. Sustained trading above the 9-day moving average would reinforce momentum for a retest of the $130,000 psychological resistance in the near term. If price closes decisively above this barrier, it could open a pathway toward the $136,000 mark, establishing a new medium-term high while solidifying the broader bullish market structure heading into the next cycle.

BTC Key Levels

Supply Levels: $124,530, $130,000, $136,000
Demand Levels: $118,000, $108,390, $95,980

What are the indicators saying?

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