Bitcoin Could Remain Range-Bound Near $120,000 as Bulls Defend Key Support Levels

Key Points

1. Bitcoin's attempts to surpass $120,000 face selling pressure, but strong ETF inflows ($799M in a day, $5.2B since early July) indicate bullish sentiment.

2. Technical indicators (flattening 20-day EMA, RSI near midpoint) suggest range-bound trading between $115,000 and $123,218 in the short term.

3. The $110,530 support level is critical; a breach could lead to a deeper correction, while holding above $113,528 could reinforce bullish momentum.

4. Investor sentiment remains cautious as Bitcoin consolidates, with traders anticipating the next major price movement.

5. ETF inflows and technical signals suggest potential upward momentum, but the market may remain range-bound in the near term.