Bitcoin Price News: Bulls Target $120k as Next Major Milestone

Bitcoin's relentless surge continues as institutional money floods the market—$120,000 now sits squarely in the crosshairs.

Market Momentum Builds

Traders pile into long positions while traditional finance veterans scramble to understand an asset that operates 24/7 without their permission. The charts scream bullish, with every dip getting bought faster than a Wall Streeter can say 'volatility.'

Institutional FOMO in Full Swing

Hedge funds and corporate treasuries chase returns they can't find in legacy markets. Meanwhile, crypto natives smirk—they've seen this story before, just with more zeros this time.

Technical Breakout Confirmed

Key resistance levels shattered like a banker's confidence during a flash crash. The path to $120k looks clearer than a balance sheet after creative accounting.

Remember: past performance doesn't guarantee future results, but in crypto, past performance mostly guarantees irrational exuberance. As one fund manager quipped, 'We're either geniuses or future case studies—the line gets blurry around all-time highs.'

Bitcoin is testing an important level. The price has reached the resistance zone between $116,500 and $117,000, but it has not yet broken through. This range has acted as a ceiling in recent sessions.

Resistance Holds Strong

Bitcoin has been consolidating after its rally from $113,000. An ascending triangle breakout earlier this month pointed to $116,500–$117,000 as the first major hurdle. Bitcoin has now reached this zone but is struggling to close decisively above it.

If bitcoin clears this range with strong confirmation, the next target sits near $120,000, followed by the all-time high around $124,000.

Support Levels to Watch

Despite resistance, the broader trend remains bullish in the short term. The 3-day MACD is nearing a bullish crossover, historically a reliable signal of upward momentum. On the downside, support remains firm at $113,000–$113,500, with additional backing at $106,700–$107,600 if a deeper pullback occurs.

Liquidity clusters are building both above and below the current price. Heatmap data shows heavy liquidation levels around $116,900, hinting another retest of the resistance area in the coming days. Below, liquidity NEAR $110,000 could act as a magnet if selling pressure intensifies, though this appears less likely given the prevailing bullish structure.

What’s Next for Bitcoin?

With the market still trending higher overall, a period of consolidation or retests around $117,000 is likely before a possible breakout. If successful, the MOVE could push Bitcoin toward $120,000, placing it within reach of its record highs.