Bitcoin May Gain Traction Above $120,000 as Ether and Other Altcoins Show Strength
Main Idea
Bitcoin may gain traction above $120,000, but faces resistance near $123,218, while Ethereum shows strong performance with record ETF inflows.
Key Points
1. Bitcoin (BTC) is facing resistance near $123,218; a break above could push it to $135,000, while failure may lead to a decline toward $95,000.
2. Ethereum (ETH) recorded its highest-ever net ETF inflows of $1.01 billion, signaling strong institutional interest and potential upward momentum.
3. BTC's rejection near its all-time high of $123,218 suggests strong bearish resistance, impacting some altcoins.
4. Ethereum's price could rally to $4,868 if it breaks resistance, but a drop below $4,094 may trigger a deeper pullback.
5. Other altcoins like BNB, LINK, and UNI show potential for upward movement if key resistance levels are breached.
Description
Bitcoin is poised for potential gains above $120,000, driven by strong institutional demand for Ethereum and positive market sentiment. Bitcoin finds support at lower levels, but may face strong selling
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