Analysis from cryptocurrency research firm 10x Research pinpoints $111,673 as a strategic Bitcoin buying opportunity following a pullback. The firm identifies this level as a potential accumulation zone for investors.
Further upside confirmation is anticipated if Bitcoin successfully breaks above and sustains momentum at the $120,000 threshold. Stabilization above this price point is viewed as a signal of strong bullish sentiment, presenting another significant entry opportunity.
Heightened trading volume observed near both the $111,673 support and the $120,000 resistance level strongly suggests these prices hold substantial importance to market participants.
The findings are supported by key technical indicators, including the Relative Strength Index (RSI) and various Moving Averages, all aligning to indicate these specific price points are pivotal for Bitcoin’s near-term trajectory.
However, the bullish thesis could be challenged if BTC significantly retraces below $111,673. Similarly, an inability to maintain levels above $120,000 after an initial breakout could trigger potential short-term price corrections.