The digital currency market is maintaining a positive outlook as the week concludes, based on data from CoinStats.
Bitcoin (BTC) has experienced a 1.26% increase in its value over the past 24 hours.
Examining the hourly chart, Bitcoin’s momentum is upward as it nears breaking through local resistance at $120,577. Should this occur, we might see further advancement towards the $121,000 mark by tomorrow.
Looking at a broader perspective, Bitcoin’s price trend remains favorable as long as it stays above $117,622.
Since there are no signs of reversal currently visible, traders could anticipate testing the resistance level of $123,236 in upcoming days.
In terms of midterm analysis, BTC is nearing resistance at $123,236. If bullish momentum persists and breaks this level successfully, a surge to new record highs may follow.
The current trading price for Bitcoin stands at $120,401 according to recent updates.