Bitcoin is currently experiencing a very sensitive and critical phase in the market. Critical resistance levels are centered between $124,000 and $128,500.
If the price manages to break through this point and hold above it steadily, we could witness a significant and strong increase that pushes Bitcoin to much higher levels.
However, in case of failure to break through this pivotal area, the most likely scenario is a price drop to the levels of $118,000 to $120,000, and this is very likely and strongly before any new upward attempt.
This means we have two main scenarios that we need to pay attention to:
1: Successful break of resistance, which opens the door for continued rise and expansion.
2: Failure to break through, and here we see a downward correction in the price before any potential new upward attempt.
Therefore, it is very important to be attentive to timing and ready for any developments. The market is known to be unforgiving, and it requires constant readiness and continuous monitoring.
