Can Bitcoin Reclaim Its All-Time High? Analyst | Crypto News
The Bitcoin price has been having fun with some type of resurgence over the past week, returning above the numerous $115,000 stage again. The premier cryptocurrency briefly crossed the $117,000 mark on Friday, August 8, capitalizing on latest bullish developments in the United States.
On Thursday, August 7, United States President Donald Trump signed an government order permitting cryptocurrency investment in 401(okay) plans. The Bitcoin price rallied on the back of this constructive development and appears to be like set to continue this ascent back to its current all-time high.
Why 118,000 Might Be Crucial For Bull Run Resumption
In a latest post on the social media platform X, distinguished crypto analyst Titan of Crypto put ahead an attention-grabbing outlook for the Bitcoin price over the approaching days. According to the current setup, the flagship cryptocurrency could possibly be on its means back to its record-high price of around $122,800.
Titan of Crypto highlighted that the Bitcoin price has been on an upward development since April 2025 and just lately just bounced off the ascending trendline. Also, the market chief has stuffed the Fair Value Gap (FVG), a liquidity void often created by a sharp motion in price.
However, the Bitcoin price appears to be approaching a important stage around the Kijun-sen (blue line) from the Ichimoku Cloud indicator. The Kijun-sen, also identified as the Base Line, often represents the market’s equilibrium and can act as a key assist and resistance stage.
As shown in the chart setup above, the market chief has climbed back above the Tenkan-sen (purple line), which is an indicator of early momentum shift. Meanwhile, the Kijun-sen (hovering around $118,000) seems to be the only impediment in the way in which of Bitcoin returning to its all-time-high price within the $123,000 area.
However, a sustained close above the “blue line” might counsel a resumption of the bull run for the price of BTC. Moreover, the Chikou Span (orange line), which is a lagging indicator, stays in the bullish zone, supporting a broader uptrend narrative for the market chief.
Bitcoin Price Overview
As of this writing, the price of Bitcoin stands at around $116,880, with no vital motion in the past 24 hours. This sluggishness doesn’t adequately replicate the coin’s exercise over the past week. According to data from CoinGecko, the premier cryptocurrency is up by more than 3% on the weekly timeframe.
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