Bitcoin Price Analysis: BTC Needs to Break This Level to Explode to $120,000
2025-06-30 13:00:09
Main Idea
Bitcoin is approaching its all-time high of $111K, but current momentum is limited; a breakout could trigger a short-squeeze, potentially pushing the price toward $120K.
Key Points
1. Bitcoin's price is nearing its all-time high of $111K, but bullish momentum appears to be waning.
2. A breakout above $108K could lead to a short-squeeze, targeting $111K and possibly $120K.
3. Rejection at $108K may push Bitcoin back toward the $100K support level.
4. Profit-taking by investors is capping upward momentum, but a slowdown in selling could enable a breakout above $111K.
5. Technical analysis suggests resistance near the all-time high, with potential for renewed bullish movement if demand increases.
Description
Bitcoin has been gradually climbing toward its all-time high of $111K, though current momentum appears limited. Still, a successful breakout above this level could trigger a short-squeeze, propelling the price toward the next potential target at $120K. BTC Price Analysis: Technicals By Shayan The Daily Chart Bitcoin has been inching closer to its all-time high of $111K but continues to show signs of waning bullish momentum. Persistent profit-taking and intensified selling pressure at this psycho...
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