btc120kvs125ktoday

#BTCWhaleTracker #BTC120kVs125kToday
📈 Price & Sentiment Snapshot

Bitcoin is trading around $120,300, with an intraday range of roughly $117,700–$120,700.

Technical analysts widely categorize BTC as a strong buy across multiple timeframes: 5-minute up through monthly charts CryptoPotato+15Investing.com+15CoinCodex+15.

🔍 What’s Driving Today’s Behavior?

1. U.S. Crypto Legislation

Congress recently passed key crypto bills—the Genius Act, Clarity Act, and anti‑CBDC legislation—signaling stronger regulatory clarity. That helped trigger a modest boost (~2%) to BTC amid fresh optimism Reuters+4Investors+4Investors+4.

2. Record-High Prices & Institutional Flow

Bitcoin is hovering just above all-time highs (~$123K). Spot ETF inflows have soared, with platforms like BlackRock’s iShares Bitcoin Trust surpassing $80 billion, and monthly ETF inflows hitting record levels MarketWatch.

3. Macro & Technical Momentum

Strong U.S. data supporting the dollar hasn’t dented BTC’s bullish setup. Models project continuing upward momentum in both the short and medium term (AI-driven forecasts see potential ~0.8% gain today) Coin Edition+9changelly.com+9Reuters+9.

📊 Range Analysis – How Today Might Play Out

ScenarioDetailsBullishExpect BTC to stay elevated, possibly testing $121K–$122K if ETF and legislative optimism persist.Neutral/SidewaysTrading could remain choppy in the $118K–$120K zone as markets digest gains.BearishA downside test near $117K–$118K may occur if profit-taking kicks in late in the day. However, current technicals and sentiment make a sharp slide unlikely.

Forecast models suggest BTC could trade between $119K–$119.7K by day’s end ft.com+3Coin Edition+3benzinga.com+3.

🧭 Key Watch‑Outs for Today

Regulatory news on the Senate vote or Presidential sign-off of the Genius/Clarity Acts could spark volatility.

Dollar strength—if U.S. economic data surprises again or Fed messaging shifts, BTC may respond.

Technical pressure—a firm break below $118K might test supports at $117K–$116K.

✅ Summary

Expect Bitcoin to remain buoyant or slightly higher today amid bullish technicals, legislative momentum, and strong ETF flows. Key resistance lies around $122K–$123K, while supports in the $117K–$118K zone offer safety.

$BTC

From late 2024 till now, Bitcoin (BTC/USD) was consolidating within a broad sideways range between well-defined support and resistance levels on the 4H Renko chart. During this time, market indecision was obvious as neither bulls nor bears could establish dominance.

Recently, BTC has decisively broken out above the major resistance zone at ~$108,000 — as seen with my custom Renko + Decision Tree + S/R Channel script ([strategy code by cryptoonchain, see script details below]). This breakout above resistance technically suggests the end of range-bound price action and the potential start of a new bullish trend, especially when confirmed by on-chain data.

On-Chain Netflow Confirmation
As I originally highlighted in my CryptoQuant Netflow analysis (published under the username ‘cryptoonchain’ on CryptoQuant platform):

Total Exchange Netflow for Bitcoin has recently dropped to its lowest level since February 16, 2023 — at which point the last bullish cycle began.
Negative Netflow means more BTC is being withdrawn from exchanges than deposited, indicating reduced selling pressure and strong holder conviction.
Binance-specific Netflow also confirms massive outflows, a sign whales and large traders are accumulating and withdrawing funds from trading venues.
Historically, this combination — a technical breakout (Renko) and deep negative on-chain netflow (dataset: CryptoQuant) — has preceded major bull runs.

Summary
Based on both my Renko model and current on-chain flows:
The breakout above 108,000 resistance marks the start of a likely new uptrend for BTC (now 119,000).
On-chain data via CryptoQuant strongly supports the bullish scenario.
Invalidation
If BTC returns below $108,000 and consolidates there, this bullish outlook is invalidated and a reassessment is required.

#BTC120kVs125kToday #USCryptoWeek #MemecoinSentiment #StrategyBTCPurchase #ETHBreaks3k