Bitcoin Hits $120K Local Peak as Bullish Momentum Cools - What’s Next for Crypto?
Bitcoin's rocket ride stalls at the $120,000 mark—traders hold their breath as the bull run shows signs of fatigue.
The Psychology Behind Peak Resistance
Market psychology shifts when assets hit round numbers—$120K became Bitcoin's latest mental barrier. Profit-taking kicks in, momentum indicators flatten, and the crypto crowd starts questioning whether this is the top or just another pause before the next leg up.
Technical Signals Flash Caution
Volume divergence appears as price action slows—classic distribution pattern emerging. The $120K level isn't just psychological; it represents a key Fibonacci extension that's triggered algorithmic selling across major exchanges.
Institutional Money Watches and Waits
While retail traders panic-sell at resistance, smart money accumulates during these pullbacks. The same Wall Street firms that called crypto a scam three years ago now quietly build positions during these 'corrections'—because nothing brings traditional finance to crypto like the scent of 10x returns.
Where From Here?
History suggests Bitcoin doesn't die at round numbers—it consolidates, builds energy, then shatters them. The current cooling period either becomes another buying opportunity or the warning bell for a deeper correction. Either way, volatility's back on the menu.
