Will Bitcoin Reach New Heights or Face Stagnation?

Bitcoin’s current price sits at a crucial point, hovering around $118,348 after experiencing a slight 0.39% rise in the last 24 hours. This minimal gain has ignited uncertainty within the cryptocurrency market, with speculators awaiting clarity on its long-term trajectory. Will it break through to new highs or stall and consolidate? Technical analysis presents both possibilities: potential decline or stabilization. Recent data suggests that support levels around $108,000-$112,000 might offer a stabilizing force for Bitcoin.