Bitcoin's Potential to Regain Record Peak Nudged by Analyst, Eyeing Crucial Mark for Revival
Bitcoin Nears Crucial Resistance Level as Bull Run Continues
The price of Bitcoin has been on an upward trend since April 2025, and it shows no signs of slowing down. According to crypto analyst Titan of Crypto, the Bitcoin price could be on its way to its record-high price of around $122,800.
On August 8, the Bitcoin price briefly crossed $117,000, marking a significant milestone in its bullish run. This resurgence in Bitcoin's price is attributed to recent bullish developments in the United States, including an executive order signed by President Trump on August 7, allowing cryptocurrency investment in 401(k) plans.
The Kijun-sen, also known as the Base Line, is a key component of the Ichimoku Cloud indicator and serves as a medium-term reference line in technical analysis. Currently, the Kijun-sen is hovering around $118,000, acting as a major resistance level for Bitcoin.
A sustained close above this level is viewed as a critical signal for the resumption of a bullish trend and a potential run toward Bitcoin's all-time high. As of this writing, the price of Bitcoin stands at around $116,880, with a weekly increase of more than 3% according to CoinGecko data.
The market leader has also filled the Fair Value Gap, a technical pattern often followed by sharp price moves, increasing the odds of a breakout if the Kijun-sen is surpassed. Trading volume and support levels around $114,600 (close to the Kijun-sen support zone) have also stabilized, showing strong buyer interest that supports a move up to challenge the Kijun-sen.
Additional Ichimoku components bolster the bullish outlook: the Chikou Span, a lagging indicator, remains in the bullish zone, confirming the uptrend. If the Bitcoin price can break and close above the Kijun-sen, it could confirm a bullish momentum shift and trigger further upside toward the previous all-time high near $122,800.
In summary, the Kijun-sen near $118,000 acts as a crucial technical barrier for Bitcoin. Overcoming it with firm, sustained price action would likely signal the next leg of Bitcoin's bull run, potentially pushing the price to new all-time highs. Conversely, failure to breach this level might lead to consolidation or pullbacks. Traders regard the Kijun-sen as a gauge of market equilibrium and momentum for medium-term trend shifts in Bitcoin.
[1] Titan of Crypto post on X [2] CoinGecko data [3] Ichimoku Cloud indicator analysis [4] TradingView analysis [5] Ichimoku Cloud indicator explanation
- The current Bitcoin market trend, as reflected in CoinGecko data, indicates a weekly increase of more than 3%, with the price standing at around $116,880.
- Analyst Titan of Crypto predicts that Bitcoin's price could touch its record-high of approximately $122,800, given the ongoing bull run.
- The Kijun-sen, a key component of the Ichimoku Cloud indicator, serves as a significant resistance level for Bitcoin at around $118,000, acting as a potential barrier in the crypto's path toward new all-time highs.
- The TradingView analysis reveals that the Chikou Span, a lagging indicator within the Ichimoku Cloud, remains in the bullish zone, confirming the uptrend and suggesting a potential bullish momentum shift if the Kijun-sen is surpassed.
- For investors, understanding the Ichimoku Cloud indicator, as explained in various resources like [1], [3], and [5], can offer insights into the market equilibrium, medium-term trend shifts, and the overall momentum of Bitcoin investments.
