- Bitcoin’s monthly close looks strong, with $117K as the critical resistance level before a push toward $128K.
- RSI trends upward at 59, signaling growing bullish momentum without overbought conditions.
- Altcoins like Ethereum are gaining too, while USDT dominance drops, suggesting capital rotation into risk assets.
Bitcoin just wrapped up the month on a surprisingly strong note, and analysts are buzzing about what might come next. Popular strategist Michael van de Poppe even called the monthly candle “phenomenal,” hinting that BTC could be gearing up for a whole new level of strength.
After weeks of steady climbing, the market now seems ready for a short breather. This consolidation phase might be exactly what Bitcoin needs before it can make another leg higher.
Bitcoin Price Eyes $117K Resistance
According to Van de Poppe, the critical resistance zone sits right around $117,000. That’s the level traders are watching like hawks. If BTC can push through this barrier, it would essentially clear the path into uncharted territory—potentially driving the coin closer to a fresh all-time high.
Still, nothing ever moves in a straight line. A little cooling off is likely as the market processes recent gains. But if Bitcoin manages a clean breakout over $117K, analysts believe a rally toward $128K could come into play sooner rather than later.
Technical Indicators Show Bullish Momentum
Looking at the charts, things are lining up nicely. The Relative Strength Index (RSI) has climbed to 59, compared to just 54 a few weeks back. That signals growing momentum while still staying shy of the dreaded overbought zone.
This slow, steady rise in RSI suggests that Bitcoin has room to run. Van de Poppe argues the setup supports a period of short consolidation followed by another breakout, keeping bulls firmly in control of the bigger picture.
Altcoins Ride the Wave as Market Expands
It’s not just Bitcoin having all the fun. Ethereum is trading around $4,750, showing solid strength and reminding investors that altcoins are riding this wave too. Meanwhile, Tether’s (USDT) dominance has slipped to 4.2%. For many analysts, that’s a bullish sign—it usually means capital is rotating into altcoins rather than sitting idle in stablecoins.
The shift is boosting participation across the board, with multiple projects enjoying the rally. Combined with Bitcoin’s strong monthly close, this broad-based momentum paints a picture of a market in growth mode.
In short: Bitcoin’s bullish monthly candle, a rising RSI, and strength across altcoins all point toward a market preparing for bigger moves. If BTC can smash through $117,000, analysts are already eyeing the $128,000 mark as the next milestone.
