🚀 Bitcoin Breaks $120K: Next Stop, Price Discovery Mode?

Bitcoin just bulldozed through the $120,000 psychological barrier—and traders aren’t even blinking. This isn’t a drill; it’s the sound of FOMO engines firing up.

### The Technical Takeaway

No pullbacks, no apologies. BTC’s weekly chart shows a clean breakout with volume to back it up. The last time sentiment looked this greedy? Right before the 2021 bull run. History doesn’t repeat, but it sure rhymes.

### What’s Fueling the Rally?

Institutional inflows? Check. ETF approvals finally priced in? Probably. The usual suspects—halving cycle, macro tailwinds—are getting credit too. Meanwhile, Wall Street’s still trying to explain Bitcoin to clients using gold analogies from 2010.

### The Road Ahead

Resistance levels now look like speed bumps. If $120K holds as support, the path to $150K is clearer than a banker’s conscience during bonus season. Short sellers? Currently regrouping—or hiding.

### The Bottom Line

Bitcoin’s playing a different game now. Traditional assets are stuck debating inflation data while BTC rewrites the rules. As always: *Trade the chart, not the narrative.* Even if that narrative involves ‘digital gold’ or ‘hedge against fiat’—terms that make crypto OGs cringe.

BTC/USD

BTCUSD broke through psychological 120K barrier in early Monday trading and hit new record high above 123K.

Fresh acceleration higher, which started last week, was fueled by increased demand on growing global uncertainty, with institutional buying being the main driver.

The US House of Representatives will start today debate on a number of bills to create a long awaited regulatory framework that WOULD further boost demand.

Bitcoin started the week with strong gains after advancing nearly 10% last week that signaled start of new bull-phase after multi-month correction from previous record high (109582).

Daily close above 120K to validate fresh bullish signal, as the price cracked initial target at 123023 (Fibo 123.6% projection of the rally from 74389) that unmasks next targets at 130K (psychological) and 131331 (Fibo 161.8% projection).

Broken 120K level reverted to initial support which should ideally hold, with deeper dips to find ground above daily higher base at 117K zone.

123260; 127100; 130000; 131330.
122000; 121260; 120000; 118900.