๐จ$BTC Bitcoin Nears $120K โ Market at a Critical Juncture! ๐๐ฅ
Bitcoin surged to $119,444 on July 13 and is now trading around $119,061 (+1.5% in 24h) ๐. A massive 10,000 BTC sell wall is acting as a barrier just before $120K โ making this a pivotal moment for the bulls vs. bears ๐งฑโ๏ธ
๐ Whatโs Fueling This Rally?
๐ Institutional Demand: Over $15B poured into Bitcoin ETFs, with BlackRockโs IBIT leading at $448.5M ๐ผ
๐ Regulatory Boost: The GENIUS Act passed, giving a green light to stablecoins โ
๐ฆ Supply Crunch: 63% of BTC now in institutional hands (was 50%) โ supply drying up ๐
๐ Technical View: MACD still bullish ๐ฅ, but RSI signals overbought โ caution โ ๏ธ
๐น Trading Outlook
๐ Support Levels: $115,500 โ $116,500
๐ฅ Shorts Wrecked: $22M in liquidations as bulls break out ๐งจ
๐ฏ Target Zone: $150Kโ$200K by year-end if demand holds strong ๐
๐ง Risk Reminder: Expect profit-taking near $120K โ psychological resistance is real ๐ฎโ๐จ
๐ฏ Signal Zone:
๐ Accumulate on dips near $115,500 โ $116,500
๐ก Maintain hedges for volatility around $120K
๐ Track ETF inflows โ major driver of momentum
๐ข Stay smart, not just bullish. $BTC has room to run โ but donโt ignore resistance walls! โ๏ธ
#BullRun2025 ๐
