Bitcoin’s Long-Term Bull Run Isn’t Over Yet: Where Does BTC Go From Here?

Bitcoin keeps defying gravity—while traditional finance scrambles to catch up. Here's what's driving the next leg up.

The Unstoppable Momentum

No pullback lasts forever in crypto, and BTC’s long-term chart still screams bullish. Institutional inflows? Check. Scarcity narrative? Stronger than ever. The only thing shaky is Wall Street’s attempt to ‘regulate’ what it doesn’t own.

Breaking Down the Next Targets

Key resistance levels loom, but Bitcoin’s never been one for respecting boundaries. With adoption accelerating—and legacy banks still charging 2% fees for moving digits—why wouldn’t capital keep flooding in?

The Cynical Kick

Meanwhile, goldbugs and central bankers cope harder. Your boomer portfolio’s ‘safe’ 3% yield just got outsprinted by a memecoin.

Short-Term Holder Cost Basis Signals Strong Support

According to on-chain data sources provided by Glassnode, the hype behind bitcoin is mostly positive and this can be tapped to prove that there is inherent strength in Bitcoin. Notably, the BTC crypto is trading above every single 24-hour short-term holder (STH).

$BTC remains above all STH sub-cohort cost bases (24hrs–3m range: $110K–$117K). This alignment with the light-volume zone suggests strong underlying support in the event of a pullback. pic.twitter.com/ynnvtungPd

Additionally, the cost base is varying between the 24-hour group at $117,200 and the 3-month group at $110,300, and 6-months all the way down at $103,700. Such grouping of achieved prices between $110,000 and $117,000 signifies that most new investors are making profits.

This reduces the immediate incentive for a broad sell-off and establishes these price levels as strong psychological and structural support zones. Furthermore, these cost bases overlap with known low-volume areas, lending additional structural integrity to the current support range.

EMAs and MACD Paint a Mixed Picture

Looking at the technical aspect, Bitcoin is already experiencing reduced volatility as the Bollinger Bands (BB) are narrowing. With the price at $117,913.9, it is extremely close to its centre of the band and the 20-day SMA ($118,307) now acts as the immediate resistance.

The most important support is at the lowest borders of the upper zone of Bollinger Bands i.e. at $117,500. Any bearish candlestick near the $116.7K mark WOULD put BTC at a steeper risk of a pullback to levels like $115K or even $112K in case it loses more buyers.

On the other hand, the Moving Average Convergence Divergence (MACD) indicator is still tending towards a bearish position. The MACD line (1,723.4) is still below the signal line (2,209.4) and it shows that the negative crossover has occurred.

For bulls to regain control, Bitcoin needs to decisively reclaim the $118.3K resistance level and hold above it with sustained trading volume. Failure to do so could lead to additional consolidation or a minor correction.

Can BTC Break $120K?

Several times, BTC has attempted to penetrate the $120k zone, but it has not cut through. However, a successful break above the 120K to be supported by an extra volume that can stimulate a new uptrend to the peak of ATH of $123,091 that was recorded earlier this month.

Conversely, in case bitcoin price is not accepted at the level, there is solid support at $115,000. This area is supported by short realized prices as well as the 50-day EMA and thus chances are high that this area may rebound in case of a price fall.

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