Bitcoin Bulls Eye $118.5K Resistance: Is a New ATH Imminent?

• Bitcoin targets $118.5K resistance for a potential ATH breakout.
• Falling wedge pattern signals 65% chance of bullish reversal.
• Regulatory shifts in 2025 could amplify market volatility.

Cryptocurrency enthusiasts are buzzing with anticipation following a detailed analysis by @CryptoFaibik on X.

The post features a Bitcoin (BTC) price chart highlighting a falling wedge pattern—a technical formation where converging trendlines suggest a potential bullish breakout. This pattern, backed by a 2020 Journal of Finance study, indicates a 65% accuracy rate for upward price movements when accompanied by high trading volume. The chart points to a critical resistance level at $118.5K, with a breakout potentially driving Bitcoin to a new all-time high (ATH) later this week.

The falling wedge, often a harbinger of bullish reversals, aligns with historical trends. Data from TradingView (July 30, 2025) reveals Bitcoin has surged approximately 50% following similar breakouts in past cycles. This optimism is fueled by current market dynamics, including heightened volatility spurred by the U.S. SEC’s 2025 policy overhaul.

The establishment of the Crypto Enforcement and Trading Unit (CETU) in January 2025 aims to clarify regulations, potentially boosting investor confidence and driving price action. However, the market remains sensitive to regulatory developments, which could either catalyze or hinder the anticipated rally. CryptoFaibik’s analysis has sparked varied reactions on X, with supporters like @MoonladSol echoing bullish momentum, while skeptics like @PeymanT65751 caution “or not.”

The timing is critical, as Bitcoin’s four-year cycle, tied to halving events, suggests a growth phase. The accumulation phase, marked by low volume and bearish sentiment, appears to be shifting, with forward-thinking buyers poised for upside potential.

Traders are advised to monitor volume and broader market conditions closely. A successful breach of $118.5K, supported by strong buying pressure, could confirm the wedge breakout, setting the stage for a historic peak. As the crypto community watches intently, this week may prove pivotal for Bitcoin’s trajectory in 2025.

Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.