Bitcoin’s $123K Rally Hits a Wall: Correction or the Start of a Bear Trap?

Bitcoin bulls just got a reality check as the king of crypto stalls below its $123K target. Was this rally just another over-leveraged pump—or is the market gearing up for the next leg up?

Resistance bites back

The $123K level has become a psychological battleground, with traders now questioning whether this is a healthy pullback or the start of a deeper trend reversal. Liquidity pools above the level suggest whales might be playing the long game.

Meanwhile, Wall Street analysts suddenly remember Bitcoin exists—just in time to issue ‘cautiously optimistic’ notes (read: we missed the bottom again).

What comes next hinges on whether BTC holds key support. Break that, and even the most diamond-handed HODLers might start sweating. Hold above? The FOMO could get ridiculous.

Bitcoin Eyes Resistance: Will It Surge Higher Soon?

Source: tradingview 

Bitcoin is currently trading between $116K and $122K. It's been showing steady improvement, with a three-and-a-half percent rise in the past week and over twenty-one percent in the last six months. This momentum hints at further growth. The next big hurdle is around one hundred twenty-three thousand dollars. If Bitcoin can break through this, it might aim for one hundred twenty-nine thousand dollars. Such a move would increase its value from the current range by around seven percent. With positive signals from various indicators, investors are watching to see if Bitcoin can keep climbing in the near term.

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Proprietary Tech That Powers Performance

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Outset PR Notices Media Trends Ahead of the Crowd

Outset PR obtains unique knowledge through its in-house analytical desk which gives it a competitive edge. The team regularly provides valuable insights into the performance of crypto media outlets based on the criteria like:

• domain activity

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Outset PR Engineers Visibility That Fits the Market

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Conclusion

Bitcoin’s approach to the $123,000 resistance line will be a decisive moment for market sentiment. A successful breakout could set the stage for a push toward $129,000, while rejection may lead to short-term retracement and renewed volatility. In parallel, well-positioned altcoins could capture investor interest, particularly in a climate where strategic visibility matters as much as market fundamentals. For crypto projects aiming to make their mark during such pivotal market moves, Outset PR offers the data-backed expertise, precision targeting, and narrative craftsmanship needed to turn volatility into opportunity.

You can find more information about Outset PR here:

Website: outsetpr.io

Telegram: t.me/outsetpr 

X: x.com/OutsetPR 

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.