Bitcoin remains in a strong bullish trend.
First major resistance level identified at $114,000.
Price may either surge past $120K or correct to $93K CME gap.
Bitcoin is holding its bullish momentum, and analysts are maintaining their long-term target of $120,000 to $130,000. The current focus is on a short-term resistance level at $114,000, a crucial checkpoint for the next major move.
What Happens After $114K?
Reaching $114,000 could serve as a turning point. If Bitcoin sustains its rally past this resistance, it could quickly approach the $120,000 region, continuing its bullish trend. However, if the resistance proves too strong, traders may witness a sharp pullback.
A likely retracement could take Bitcoin down to fill the CME gap near $93,000—a common technical occurrence in crypto markets. These gaps, which form on the Chicago Mercantile Exchange when prices move sharply over the weekend, are often revisited by the market.
#Bitcoin remains fully bullish, with our targets of $120,000–$130,000 unchanged. As mentioned in Sunday report, the first key level is $114,000. Once that target is reached, we’ll see whether BTC pushes toward the $120K+ region or retraces sharply to fill the CME gap around 93k
— Doctor Profit (@DrProfitCrypto) July 2, 2025
Traders Remain Cautiously Optimistic
Despite the bullish outlook, market participants remain cautious. A breakout past $114,000 will likely confirm strength, but failure to break this level could indicate short-term weakness. Either way, Bitcoin’s long-term trajectory still points upward, especially if macroeconomic and institutional support continues to grow.
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