🚀 Bitcoin Smashes $120K Barrier — Bulls Stampede Into Record Books

History made—again. Bitcoin’s relentless rally defies gravity, skepticism, and at least three 'bubble' warnings from Jamie Dimon.

No brakes, no apologies. The king of crypto just turned $120K into a pit stop.

Wall Street analysts scramble. Retail FOMO surges. And somewhere in Zurich, a gold bug quietly sobs into his hedge fund prospectus.

What’s next? The chart says 'up.' The fundamentals scream 'hodl.' And the suits? They’re still arguing about 'intrinsic value' while the blockchain prints another ATH.

Welcome to the future of finance—where the dinosaurs keep predicting rain, and the meteor’s already hit.

Bitcoin Price Sets New ATH

Bitcoin price started a fresh increase after it cleared the $115,500 resistance zone. BTC gained pace for a MOVE above the $116,000 and $118,500 resistance.

The bulls even pumped the pair above the $120,000 resistance zone. A new all-time high was formed at $122,550 and the price is now consolidating gains above the 23.6% Fib retracement level of the upward move from the $116,679 swing low to the $122,550 high.

Bitcoin is now trading above $120,000 and the 100 hourly Simple moving average. There is also a bullish trend line forming with support at $119,000 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is NEAR the $122,550 level. The first key resistance is near the $1123,500 level. The next resistance could be $124,000.

A close above the $124,000 resistance might send the price further higher. In the stated case, the price could rise and test the $128,000 resistance level. Any more gains might send the price toward the $128,800 level. The main target could be $130,000.

Downside Correction In BTC?

If Bitcoin fails to rise above the $122,500 resistance zone, it could start a downside correction. Immediate support is near the $121,500 level. The first major support is near the $119,500 level or the 50% Fib retracement level of the upward move from the $116,679 swing low to the $122,550 high.

The next support is now near the $119,000 zone. Any more losses might send the price toward the $118,500 support in the near term. The main support sits at $116,500, below which BTC might continue to move down.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $122,500, followed by $125,000.

Major Resistance Levels – $121,500 and $119,000.