Bitunix analysts report that Bitcoin confronts significant resistance at the $120,000 price level, a critical barrier for upward momentum in the near term. Simultaneously, strong support has solidified at $115,000, serving as a key floor to prevent sharper market declines.
The European Union’s recent trade agreement has provided a short-term boost to cryptocurrency market sentiment, reinforcing confidence among Bitcoin investors. This development comes amid observations that the $120,000 resistance remains a decisive threshold for bullish continuation.
Traders are advised to monitor Bitcoin’s position relative to the $115,000 support level and watch for potential breakouts above $120,000 to determine directional moves. Analysts caution that the EU trade deal’s market impact is likely temporary, with broader macroeconomic and regulatory factors poised to dictate Bitcoin’s longer-term trajectory.