Bitcoin Shows Potential for Further Gains Amid Key Resistance and Support Levels, Analysts Suggest

Key Points

1. Bitcoin reached a new all-time high near $122,000, but comprehensive market tops have yet to manifest, suggesting further rally potential.

2. Key resistance levels are identified at $124,000 and $136,000, where profit-taking historically intensifies and unrealized profits may trigger corrections.

3. Critical support levels include $101,000, with intermediate supports at $111,000 and $113,000, underpinning Bitcoin's medium-term bullish structure.

4. Onchain metrics, such as the realized cap-UTXO age bands, show reduced short-term holder activity (around 5%) compared to previous peak periods (14%), indicating a less overheated market.

5. The MVRV Z-Score and dynamic support near the 200-day EMA (between $113,700 and $115,300) reinforce Bitcoin's resilience against downside risks.