Bitcoin continues to show incredible strength, moving within a valid upward trend channel. After a slight correction, the price successfully broke above the downtrend line and is now retesting a key resistance area. At the moment, the previous high around 120,000 serves as a major obstacle. We may see a short-term correction toward the recently broken support area. However, if this area holds and acts as support, the price could maintain its bullish momentum and attempt to break through the previous high.
As long as the price stays above the support zone and the lower boundary of the trend channel—without falling below the previous base—the bullish scenario remains highly valid. With a positive medium-term outlook, any correction could actually present an attractive buying opportunity.
So, what do you think? Will Bitcoin break its previous high, or are we looking at a deeper correction ahead? Share your thoughts in the comments, and don’t forget to hit like!