🚨 BTC has cleanly broken above $120K, tagging $123,300 today (ATH) — pushing the top boundary of a well-respected rising channel that’s been in play since April.
🔍 Analysis:
Structure & Trend:
Price broke out of a Descending Triangle back in March — that move initiated a trend, not just a spike. Since then, BTC has followed an ascending channel, showing institutional-style demand: controlled, aggressive, and layered.
Current Price Action:
We’re at the upper edge of the rising channel, where many traders either:
- Exit early out of fear of reversal,
or
- Chase breakout longs, often just before a shakeout.
Smart trading now = discipline, not FOMO
If BTC fails to hold above $120K, expect a cool-off to the channel midline around ($111K–$112K) or even lower.
🧠 What to Do as a Trader:
Already in from Lower?
This is your TP zone or trailing stop region. Don't get greedy.
Protect capital. Re-enter on retest or new setup.
Looking to Enter Now?
Not ideal. Let the chart either break and retest cleanly OR
pull back to mid-channel ($112K area) for a high-R:R setup.
📌 Summary
BTC is bullish — no denial. But this is the zone where pros reduce risk and wait for confirmation, while most retail enters blindly.
Don’t be the liquidity.
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Let’s trade smart, not emotionally. 💯
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