The Bitcoin price enjoyed a form of revival last week and returns to the significant level of $ 115,000. The Prime Minister Cryptocurrency briefly crossed the $ 117,000 on Friday 8 August and benefited from recent Bullish developments in the United States.
On Thursday, August 7, US President Donald Trump signed an executive order that made Cryptocurrency investments possible in 401 (K) plans. The Bitcoin prize gathered on the back of this positive development and seems to go back to his current of all time.
Why 118,000 can be crucial for the resumption of Bull Run
In a recent message on the social media platform X, prominent crypto analyst Titan from Crypto put forward An interesting prospect for the Bitcoin price in the coming days. According to the current setup, the Cryptocurrency flagship could be back on its way to its record -high price of around $ 122,800.
Titan van Crypto emphasized that the Bitcoin price has been on an upward trend since April 2025 and recently just bounced off the rising trend line. The market leader has also filled the real value GAP (FVG), a liquidity emptiness that is often created by a competitive price movement.
However, the Bitcoin prize seems to approach a critical level around the Kijun-Sen (Blue Line) from the Ichimoku Cloud indicator. The Kijun-SenAlso known as the baseline, often represents the balance of the market and can act as an important support and resistance level.
As shown in the above map setup, the market leader has been backwards above the Tenkan-Sen (red line), which is an indicator for early momentum shift. In the meantime, the Kijun-sen (around $ 118,000 floating) seems to be the only obstacle in the way Bitcoin returns to his all time in the $ 123,000 region.
However, a persistent close to the “blue line” can suggest that a resumption of the bull run for the price of BTC. In addition, the Chikou -overvoltage (Orange Line), which is a lagging indicator, remains in the Bullish Zone, which supports a wider ramp for the market leader.
Bitcoin -Award overview
From this letter, the price of Bitcoin is around $ 116,880, without significant movement in the last 24 hours. This slowness does not reflect the activity of the coin in the past week. According to Data from Coingecko, the Prime Minister Cryptocurrency has risen by more than 3% on the weekly period.