Bitcoin May Need Higher Volume to Break $120,000 Resistance and Enter Price Discovery Phase
Main Idea
Bitcoin needs to break the $120,000 resistance level with increased trading volume to enter a new price discovery phase and sustain a bullish rally.
Key Points
1. Bitcoin must surpass the $120,000 resistance with strong volume to confirm a bullish trend and trigger a new rally.
2. Spot trading volume and cumulative volume delta (CVD) metrics indicate renewed buyer interest, which is critical for a breakout.
3. A falling wedge breakout suggests potential for a strong rally if Bitcoin retests and holds the upper boundary as support.
4. Analysts highlight that breaking $120,000 with higher volume is essential for Bitcoin's price discovery in 2025.
5. Declining spot volume (from $9.2B to $8.6B) needs to reverse to confirm broader accumulation and demand-side pressure for a breakout.
Description
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