Bitcoin: Third Time’s a Charm at 120k?

7 giorni fa

Two days ago, in my last BTC analysis, I mentioned that bulls had to defend 112k at all costs. Losing it would have opened the gates toward 100k.
Fortunately for the bullish camp, the defense worked. Bitcoin didn’t just hold the line—it pushed higher and broke through the 115k resistance, which had been reinforced by a falling trendline.
Now, with price trading around 118,600, the market is once again staring at the critical 120k barrier.
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Why 120k Is So Important
• BTC has already tested this level twice this year, only to be rejected both times.
• Each failure sparked corrections, making 120k not just a number but a milestone for sentiment and structure.
• If bulls can finally conquer and hold above it, the door to new all-time highs swings open.
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Technical Structure
• 108k: A solid support.
• 112k: The battleground of the past few months—resistance, support, resistance, etc is now reconquered.
• Trendline Break: The falling trendline gave way, giving bulls the momentum they needed.
The chart is building constructively, with strong supports.
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Third Time’s a Charm?
Markets don’t often give three chances at the same key level. The third test usually decides the story.
My stance: buy dips. As long as 112k remains intact, I expect BTC to break 120k and head toward a new ATH.
So, will 120k finally fall on the third attempt? My conviction is stronger than before. 🚀

7 giorni fa

Trade attivo

We are above 120k
125k could be short term target