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Cryptocurrency analyst Joao Widdson, in his statement assessing the current Bitcoin price cycle, pointed out critical levels for the market.

According to Widdson, the most interesting Bitcoin strength law model indicates that the resistance area lies in the range from $118,900 to $120,000.

Widdson argued that for Bitcoin's price to exceed these levels, it needs to surpass a previously defined price threshold known as "Alpha Price," which was previously set at above $119,300. According to the analyst, surpassing this level is only possible after a period of stability and the exit of overly optimistic investors from the market.

Widdson stated: "Once that happens, the doors will be wide open for higher levels," noting that the potential peak level for this cycle could be in the range of $143,000 to $146,000.$BTC