đ¨ $BTC STALLS BELOW $123K â WHY THE BREAKOUT FAILED & WHATâS NEXT?
Bitcoin came within striking distance of $123,000, peaking at $122,800 before retracingâleaving traders wondering: What stopped the breakout?
According to Alphractal CEO Joao Wedson, the culprit lies in a powerful on-chain resistance: the Alpha Price indicator.
đ§ What is Alpha Price?
A next-gen valuation model that factors in Bitcoinâs market age to define dynamic support/resistance zones. The $123,370 mark was the second Alpha Price levelâa historic resistance zone that triggered profit-taking and selling pressure.
đĄ Wedson notes that while the stall at this level may seem bearish, it doesnât signal a market top. In fact, real-time on-chain volumes could adjust Alpha Price levels as early as July 19.
Key Insight:
If $BTC clears $123,370 with conviction, the next leg could extend toward $143,000+. For now, caution prevailsâbut the bull cycle isnât over.
Keep your eyes on volume, whale activity, and Alpha Price dynamics.