Bitcoin Near $119K as Altcoin Momentum Suggests Potential Market Shift

Key Points

1. Bitcoin is trading near $118,920, with a key resistance zone between $120,000 and $123,000; a breakout could trigger a new all-time high.

2. Altcoins, led by Ethereum and mid-cap tokens, are showing strong momentum, with 75% of top 100 altcoins displaying impulse signals.

3. Analysts highlight the $123,000 resistance level as pivotal for Bitcoin, determining market sentiment and capital flow between Bitcoin and altcoins.

4. Market timing is crucial for altcoin investment, with current conditions resembling past altseason periods.

5. Investors are advised to monitor Bitcoin's resistance levels and altcoin momentum closely for potential market shifts.