Bitcoin Price Aims Fresh Gains After Consolidation: Can the Rally Resume?
Bitcoin price is eyeing a fresh increase above the $118,500 resistance. BTC must clear the $120,250 resistance zone to gain bullish momentum in the near term.
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- Oil prices remain low despite geopolitical tensions in major producing countries, as traders now focus more on actual supply than reserves.
- Demand for fossil fuels is slowing due to rising electric vehicle adoption, energy efficiency, and renewable alternatives, keeping price rallies in check.
- Crude oil and natural gas charts signal weakness, with key resistance levels holding and downside breakouts suggesting further bearish momentum ahead.
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