Bitcoin is facing selling near $123,218, but it remains on track to hit a new all-time high as long as it sustains above $117,000.
Bitcoin could challenge the $120,000 to $123,218 resistance zone but crossing it may be a tough ask for the bulls.
Bitcoin’s tight consolidation and Ether’s shallow pullback suggest a directional move could be around the corner.
Bitcoin is trying to start a recovery from $112,000, but bears may pose a substantial challenge at $117,000 and then at $120,000.
Bitcoin’s tight consolidation resolved to the downside, but the failure of the bears to sustain the lower levels could push the price to new all-time highs.
Bitcoin’s tight consolidation just below $120,000 suggests the bulls are holding on to their positions as they anticipate an uptick in volatility.
Data shows Bitcoin is preparing for a sharp breakout from its range-bound action in the next few days.
Bitcoin is at risk of losing the $115,000 support, raising the chance that the recently started altcoin season could abruptly end.
Bitcoin continues to face selling near $120,000, but the bulls have kept up the pressure, increasing the likelihood of an upside breakout.
Bitcoin holds above $120,000 as corporate crypto treasury building and robust spot BTC ETF buying continue to support the new price range.