The Bitcoin price saw a modest increase of 1.3% over the past day, according to CoinStats data. As of today, August 10th, the rate of Bitcoin (BTC) is attempting to surpass the local resistance level of $118,500 on an hourly chart. If successful, the upward movement may reach $119,000 by tomorrow. On a longer timeframe, traders should be aware of the nearby support level at $118,775. Bulls will likely continue their push if they can hold this momentum, potentially driving the price to $120,000 or more. 8 Looking ahead to the midterm view, Bitcoin’s current rate remains far from key levels. However, a breakout of the $123,236 resistance could lead to a new all-time high in the near future.