Analysis on Bitcoin Value: Could Bitcoin Push Past $120,000?
Bitcoin's upward momentum appears to have slowed, with the digital currency consolidating just below the $111,000 mark. The market is currently in a state of anticipation, awaiting fresh demand or supply to define the next major price move. Despite the pause, analysts remain optimistic about a bullish continuation in the broader outlook.
According to a technical analysis, Bitcoin is navigating through a consolidation phase beneath its recently established all-time high of $111,000. The slowdown in bullish momentum after breaking above the former ATH at $109,000 is indicative of market indecision. A fresh wave of demand is necessary for the price to resume its upward trajectory and reach the critical psychological level of $120,000. Conversely, a failure to hold above the $109,000 breakout level could trigger a corrective move, potentially targeting the $100,000 support zone.
Zooming into the 4-hour timeframe, Bitcoin continues to respect an ascending channel structure, consistently forming higher lows and higher highs. The price's retracement to the lower boundary of the channel near $106,000, where it found temporary support, suggests balance between bulls and bears. Further consolidation may occur in the short term before a decisive breakout.
On a positive note, on-chain analysis indicates that long-term holders are not yet participating significantly in profit-taking. This lack of activity from seasoned holders suggests they continue to hold their coins with conviction, underscoring strong confidence in the continuation of the uptrend.
Expert forecasts suggest that Bitcoin is in a strategic pause in an overall bullish setup. The price is expected to maintain or slightly increase in the near term, with significant upside potential later in 2025 driven by institutional accumulation, macroeconomic trends, and renewed market momentum. Investors might anticipate breaking out above the $110,000-$111,000 zone eventually, aiming for targets in the $120,000 to $250,000 range by the end of 2025.
- Amid the consolidation phase of Bitcoin, analysts are employing technical analysis to predict the next price move, with ongoing anticipation for a fresh wave of demand to rekindle the bullish momentum.
- Despite Bitcoin's temporary retreat below the $111,000 mark, experts remain optimistic about its long-term outlook, attributing the slowdown to market indecision rather than fundamentally bearish sentiment.
- The digital currency's trading chart reveals signs of a short-term correction, with Bitcoin continuing to respect an ascending channel structure and finding temporary support near $106,000.
- As large institutional players continue to accumulate crypto assets, DeFi platforms gain traction, and macroeconomic trends favor Bitcoin, long-term investors anticipate capitalizing on the uptrend, particularly aiming for targets above $120,000 to $250,000 by the end of 2025.
