The post Technical Patterns Point to $200K Rally Ahead appeared on BitcoinEthereumNews.com.

Bitcoin Analysis Bitcoin has reclaimed the $120,000 support level, and technical signals suggest the rally may be far from over. Popular analyst TradingShot believes the cryptocurrency’s long-term price structure could support a run toward $200,000 before the next market peak. The bullish case builds on Bitcoin’s rebound from the 50-week moving average, reinforced by a bounce at the 50-day MA. According to TradingShot, the next major test lies at the 0.5 Fibonacci retracement — a resistance zone that has capped gains since mid-2022. Historically, breaking this level has set the stage for moves toward the 0.786 Fibonacci area, which would align with a $200,000 price target. Data shared by analyst Ali Martinez highlights two key support levels at $118,163 and $116,934, where over one million BTC changed hands. These price points serve as both technical and psychological floors that could help absorb future selling pressure. At press time, Bitcoin traded at $120,920, up more than 6% over the week. The asset remains well above its 50-day SMA of $114,109 and 200-day SMA of $92,926, reinforcing a strong long-term uptrend. Meanwhile, an RSI reading near 60 suggests the market still has room to run before approaching overbought territory. The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions. Author Kosta joined the team in 2021 and quickly established himself with his thirst for knowledge, incredible dedication, and analytical thinking. He not only covers a wide range of current topics, but also writes excellent reviews, PR articles, and educational materials. His articles are also quoted by other news agencies.
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Filed under: News - @ August 13, 2025 10:26 pm