Bitcoin’s Crucial Juncture: Breaking the $120K Resistance, Next Stop $136K

Key Points

1. Bitcoin has reached a significant resistance level near $120,000, identified through Glassnode's on-chain metrics.

2. Institutional adoption and the 'digital gold' narrative are driving Bitcoin's price momentum.

3. The halving event's long-term supply shock is expected to bolster Bitcoin's value.

4. Market psychology, including FOMO and FUD, will play a crucial role in Bitcoin's price movement around the $120,000 mark.

5. Potential challenges include regulatory headwinds, macroeconomic shocks, whale selling, and market saturation.

6. Glassnode Analytics provides insights into market behavior, highlighting the $120,000 resistance and $136,000 target.

7. Reaching $136,000 would be a significant milestone, but Bitcoin's journey is influenced by various factors, including market sentiment and macroeconomic conditions.