Bitcoin Sets New Milestone at $126,193 as Bulls Target $130K

Bitcoin (BTC) surged to a new all-time high of $126,193 on Monday, extending last week’s strong momentum that saw the world’s largest cryptocurrency gain over 10%. Despite this record-setting move, BTC eased slightly on Tuesday, trading around $122,000+ as traders locked in profits and momentum indicators signaled cooling strength.

If buyers regain control, BTC could push toward the psychological $130,000 level, a price zone that may attract heavy interest from both retail and institutional investors. Holding above $120,000 is key to maintaining the bullish structure, while a decisive breakout could fuel the next leg higher.

Technical indicators show mixed signals. The Relative Strength Index (RSI) reads 63.62, down from overbought levels earlier this week, suggesting fading momentum and the possibility of a short-term consolidation phase. On the other hand, Bitcoin continues to trade comfortably above its moving averages: the 20-day EMA at $117,698, 50-day EMA at $115,496, 100-day EMA at $113,176.5, and 200-day EMA at $107,467.4. These levels are likely to serve as strong supports in the event of a pullback.

Overall, while momentum has slowed slightly, Bitcoin remains firmly bullish in the medium to long term. The coming days will be crucial in determining whether BTC consolidates above $120K before resuming its climb, or whether bulls push directly toward the highly anticipated $130K milestone.

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