Trump Media and Strategy adds billions to Bitcoin holdings, CoinDCX launches bounty, and India intensifies crypto tax enforcement this week. Strategy extends Bitcoin purchasing spree CoinDCX launches $11 million recovery bounty Trump Media allocates $2 billion to Bitcoin treasury Ark…

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Bitcoin price is eyeing a fresh increase above the $118,500 resistance. BTC 
must clear the $120,500 resistance zone to gain bullish momentum in the near 
term. Bitcoin started a fresh increase after it cleared the $118,500 zone. The 
price is trading above $118,500 and the 100 hourly Simple moving average. 
There was a break above a key bearish trend line with resistance at $118,300 
on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair 
might start another increase if it clears the $120,500 resistance zone. 
Bitcoin Price Aims Key Upside Break Bitcoin price started a fresh increase 
from the $115,000 zone. BTC climbed above the $116,500 and $117,800 resistance 
levels to move into a positive zone. Besides, there was a break above a key 
bearish trend line with resistance at $118,300 on the hourly chart of the 
BTC/USD pair. The bulls were able to push the price above the $118,500 
resistance. A high was formed at $119,795 and the pair is now consolidating 
gains above the 23.6% Fib retracement level of the upward move from the 
$114,733 swing low to the $119,795 high. Bitcoin is now trading above $118,800 
and the 100 hourly Simple moving average. Immediate resistance on the upside 
is near the $119,800 level. The first key resistance is near the $120,000 
level. The next resistance could be $120,500. A close above the $120,500 
resistance might send the price further higher. In the stated case, the price 
could rise and test the $122,500 resistance level. Any more gains might send 
the price toward the $122,500 level. The main target could be $123,200. 
Another Drop In BTC? If Bitcoin fails to rise above the $120,500 resistance 
zone, it could start another decline. Immediate support is near the $118,600 
level. The first major support is near the $117,800 level. The next support is 
now near the $117,250 zone or the 50% Fib retracement level of the upward move 
from the $114,733 swing low to the $119,795 high. Any more losses might send 
the price toward the $116,600 support in the near term. The main support sits 
at $115,500, below which BTC might continue to move down. Technical 
indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. 
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 
level. Major Support Levels – $118,600, followed by $117,250. Major Resistance 
Levels – $119,800 and $120,500.

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Bitcoin held steady last week while altcoins tumbled, as the crypto market 
entered a holding pattern ahead of key macro and corporate catalysts.