Can Bitcoin Price Break $120,000? Depends On These Factors
The post Can Bitcoin Price Break $120,000? Depends On These Factors appeared on BitcoinEthereumNews.com.
As the crypto market continued to see some crucial developments this week, Bitcoin (BTC USD) price approached prior resistance while Washington discussed a bipartisan digital-asset bill. Bitcoin price was around $115,717 at the time of writing, down 0.04% in the past 24 hours but up 2.30% over the past month. Bitcoin Price Pattern Repeated Across Prior Cycles Analysts said Bitcoin (BTC USD) followed a clear rhythm in recent years. Price met resistance, pulled back for a retest, then advanced. They cited prior ceilings near $30,000, $48,000, and $93,000. After each stall, a retest preceded a move into a higher range. This pattern mattered because traders used it to frame risk. Rejections set reference levels, while retests checked conviction. Each successful retest, analysts said, hardened support. That change often invited new entries from patient capital. The current setup looked similar on higher time frames. Bitcoin cleared the mid-$115,000s, then drifted toward that zone for a check. If buyers defended the area, history suggested range expansion. Failure would have shifted focus to lower supports. Traders often watched context around these steps. Volume behavior, wick structure, and trend averages helped confirm intent. A “rejection-retest-rise” loop did not guarantee continuation. It only framed probabilities based on repeated outcomes. In practice, participants treated the pattern as a map, not a promise. They looked for confluence before acting. Bitcoin rejections aren’t bearish, history shows they set up liftoff | Source, MerlijnTrader, X Bitcoin Price Levels Set the Technical Context Market participants tracked a few anchor levels. The mid-$115,000s acted as a pivot after the latest breakout. A sustained hold above that band supported a bullish bias. A decisive close below it weakened the case. Analysts also watched prior rejection zones for Bitcoin (BTC USD). Those zones often turned into support once price reclaimed them. Some traders…
