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Today Technical Analysis: Bitcoin Breaks a New Record Above $120,000

July 14, 2025, 06:59
Bitcoin Breaks a New Record Above $120,000

Bitcoin has shown a strong bullish breakout of previous record highs, pushing prices to a new all-time high above $122,000. The cryptocurrency is now testing resistance at around $122,644. MACD on the hourly chart is very bullish with a wide gap and rising histogram.

All moving averages sharply trending upward, confirming the uptrend. Despite the strong bullish momentum, it’s important to note that we still may face profit-taking pressure soon after this sharp move.

Watch out for any bearish correction toward dynamic support levels represented by moving averages MA(5), MA(10), and MA(30).

Bitcoin (BTCUSD) 1H Chart

Bitcoin (BTCUSD) 1H Chart 14-7-2025
Resistance123,000123,500124,000
Support121,396120,021119,300

Dow Jones opened with a bearish gap indicating weakness in price movement. The index is currently trading at 44,132 with bearish short term sentiment.

MACD is bearish with histogram red and expanding downward, signal line crossed below. Moving averages MA (5, 10, 30) are all sloping down, confirming weakness.

Price formed a short-term support level near 44,100. Watch out for a potential bounce or breakdown below this level.

Dow Jones 1H Chart

Dow Jones 1H Chart 14 july 2025
Resistance44,22944,31744,414
Support44,05843,98243,878

USDJPY shows an uptrend on the hourly chart. Price has bounced from the 30-period moving average recently, indicating the uptrend is still healthy.

MACD recently showed weakening bullish momentum, but it is ticking upward now. A breakout above recent resistance level 147.57 hints at a continued upside movement.  The pair is still supported by upward-sloping moving averages, suggesting buyers are in control unless it breaks below 147.00.

USDJPY 1H Chart

USDJPY 1H Chart 14 July 2025
Resistance147.57148.00148.25
Support147.12146.76146.14
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