Bitcoin Weekly Close Above $117,000 Could Spark Fresh All-time High Run
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Bitcoin’s price action is drawing attention this week as traders closely monitor two critical resistance zones.
According to analyst EGRAG CRYPTO, a weekly close above $117,300 would be “incredibly bullish,” signaling strong momentum for further upside.
The more ambitious target, however, sits slightly higher. A weekly close above $119,400 could set the stage for Bitcoin to attempt a fresh all-time high (ATH). If confirmed, this would mark a major psychological and technical breakthrough, with the market entering uncharted territory once again.
While optimism is building, EGRAG emphasized patience, reminding followers that “time will tell.” Traders are watching closely to see if Bitcoin can sustain its rally after recent volatility, where the asset has repeatedly tested resistance but failed to push decisively higher.
Should Bitcoin secure a close above these thresholds, analysts expect increased institutional interest, higher trading volumes, and a renewed wave of bullish sentiment. Conversely, failure to break through could trigger consolidation before the next leg up.
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