Bitcoin Faces Critical Resistance Near $120,000 Amid Potential Short Squeeze and Market Uncertainty
Main Idea
Bitcoin is encountering significant resistance near $120,000, with potential for a short squeeze if the level is breached, while $116,000 serves as a key support level.
Key Points
1. Bitcoin is testing the $120,000 resistance level, which could trigger a short squeeze if broken.
2. The $116,000 mark is a major liquidation zone and key support level, confirmed by moving averages.
3. Breaking above $120,000 with strong volume could push prices toward $125,000 or higher.
4. Failure to surpass $120,000 may lead to a retracement toward $116,000, with risk of further declines.
5. The 50, 100, and 200-day moving averages indicate a structurally bullish market, supporting price stability.
Description
Are You Chasing New Coins? Catch the newest crypto opportunities. Be the first to buy, be the first to win! Click here to discover new altcoins! Bitcoin is currently
Latest News
- Bitcoin Faces Potential Consolidation as Fed Pauses Rate Cuts and Long-Term Holders Trim Exposure2025-07-31 09:34:10
- South Korea’s Financial Authorities Collaborate with Crypto Exchanges to Develop Bitcoin Lending Service Guidelines2025-07-31 09:32:47
- Ethereum Eyes Potential Break Above $4,000 as Key Level for Next Rally, Analysts Suggest2025-07-31 09:31:52
- $A2Z listed on Bybit futures2025-07-31 09:31:13
- Bitcoin Could Potentially Reach $125,000 by 2025 Amid Institutional Interest and Regulatory Developments2025-07-31 09:30:23