By Chris Hollingworth 
Bitcoin is currently encountering resistance around the $123,218 mark, yet the leading cryptocurrency is still poised to achieve a fresh record high provided that it maintains support above $117,000.
Market analysts are closely monitoring Bitcoin’s price movements as it hovers near the $123,000 level. The digital asset has demonstrated strong bullish momentum in recent weeks, with many investors eyeing a potential surge to surpass its previous all-time high.
Maintaining key support above $117,000 is crucial for Bitcoin to sustain its upward trajectory. Traders are closely watching for any signs of a breakout or a potential pullback in the cryptocurrency’s price.
Despite the short-term selling pressure near $123,218, Bitcoin’s overall outlook remains positive, with many experts predicting further gains in the near future. Investors are advised to stay informed about market developments and key price levels to make well-informed decisions regarding their Bitcoin holdings.
