#CreatorPad

After the recovery of BTC support at $120,000, the long-term structure indicates a potential rise to $200,000 in the coming months. Analyst TradingShot notes that Bitcoin bounced off the 50-week moving average and the daily MA50, resuming its upward momentum.

The next significant resistance is the Fibonacci level of 0.5, which has historically served as a "ceiling" for BTC since May 2022. A breakthrough of this level could direct the price towards Fibonacci 0.618 and the $200,000 mark by the end of the year.

Technically, BTC is trading above the 50-day SMA ($114,109) and 200-day SMA ($92,926), and the 14-day RSI is at 59.57, indicating moderate upward momentum without overheating. The market structure supports the idea of consolidating above $120,000 and continuing long-term growth.