Bitcoin’s price action reveals significant technical barriers and foundational support levels that reflect current market psychology and trading dynamics. The cryptocurrency faces substantial resistance between $124,000 and $136,000, with these thresholds acting as critical tests for bullish momentum.
The $124,000 zone where short-term zone where short-term zone where short-term profit-taking typically intensifies, while the $136,000 mark coincides with the upper standard deviation boundary for recent buyers. These resistance points collectively form a challenging ceiling for price advancement.
Conversely, Bitcoin demonstrates robust support between $101,000 and $113,000. This zone signals strong accumulation interest and reflects medium-term bullish conviction among investors, serving as a crucial foundation for market stability.
On-chain metrics continue to provide valuable insights into price movements and investor behavior patterns. Traders are advised to monitor the evolving relationship between these resistance and support levels to assess potential momentum shifts.
Market analysts caution that sustained failure to hold the $101,000-$113,000 support range could trigger intensified selling pressure, potentially altering the current market structure.