📢 Exclusive on Gate Square — #PROVE Creative Contest# is Now Live!
CandyDrop × Succinct (PROVE) — Trade to share 200,000 PROVE 👉 https://www.gate.com/announcements/article/46469
Futures Lucky Draw Challenge: Guaranteed 1 PROVE Airdrop per User 👉 https://www.gate.com/announcements/article/46491
🎁 Endless creativity · Rewards keep coming — Post to share 300 PROVE!
📅 Event PeriodAugust 12, 2025, 04:00 – August 17, 2025, 16:00 UTC
📌 How to Participate
1.Publish original content on Gate Square related to PROVE or the above activities (minimum 100 words; any format: analysis, tutorial, creativ
Bitcoin (BTC) price prediction: target breakthrough $120,250 key resistance area
The price of Bitcoin is attempting to break through the resistance level of $118,500 and clear the key resistance area of $120,250 to gain short-term bullish momentum. If these key levels are broken, BTC may experience further pump.
Bitcoin price begins a new round of pump
The price of Bitcoin has started a new wave of pump after breaking through the $118,000 range. Currently, the price is steadily trading above $118,600 and is above the 100-hour simple moving average (SMA). On the hourly chart of BTC/USD, a key bullish trend line has formed, with the support level located around $118,200.
If Bitcoin can break through the $120,000 resistance level, it may trigger a new round of pump.
Bitcoin Price Short-term Pump Target
Bitcoin price previously started to pull back from the $120,250 resistance level, falling below $118,500 and testing the $118,000 support area. Nevertheless, the bulls in the market remain active, especially near the $117,500 support area.
Currently, the BTC price has steadily risen above $118,600 and remains above the 100-hour SMA. In the short term, the first key resistance level is around $119,300, while further resistance is in the $120,000 to $120,250 range. If the resistance at $120,250 is broken, the price is expected to rise and test the $122,500 area, with a further rise target possibly at $123,200.
If it does not break through the resistance level, Bitcoin may pull back again
If Bitcoin fails to break through the resistance level of $120,250, it may begin another pullback. The first support level at this time is around $118,500, followed by the $117,200 support zone, or the 76.4% Fibonacci retracement level located between $116,260 and $120,237.
If downward pressure increases further, the price may fall towards $116,250, and if it breaks this support, it may continue to seek support at $115,000, with the final main support level at $113,500.
Technical Indicator Analysis:
Main support levels: $118,250 and $116,250.
Main resistance levels: $119,250 and $120,250.