Bitcoin Price Watch: Bulls Eye $125K as Key Resistance Looms

Key Points

1. Bitcoin's current price is $120,677, with a market cap of $2.40 trillion and 24-hour trading volume of $50.93 billion.

2. Key resistance is set at $123,200, with critical support between $114,000 and $116,000.

3. Technical indicators (RSI, stochastic, CCI, ADX, MACD) suggest bullish momentum, with potential for a rally to $125,000 if $123,200 is breached.

4. A breakdown below $120,000 could lead to a retracement toward $118,000-$118,500.

5. The $120,000-$120,500 zone is a significant level for maintaining bullish sentiment.