Is Bitcoin heading towards $120,000? Technical analysis and potential scenarios.
Recently, we witnessed a strong breakout above the historical resistance level of $110,000 for #BTC, supported by increased institutional liquidity and market optimism.
But the question is: is this just a temporary spike, or the beginning of a new bullish wave?
A quick technical glance:
* The price broke through a 6-month resistance.
* Technical indicators (RSI and MACD) are still in the buying zones.
* The nearest support is at $106,500 – breaking it could signal a short-term correction.
My perspective:
With liquidity and interest from major funds remaining, I believe Bitcoin could reach $120,000 in the coming weeks, but we must be cautious of sudden profit-taking.
`#BTC #TechnicalAnalysis #BinanceSquare #Bitcoin #CryptoNews`
