Bitcoin moves closer to the $120,000 mark

Source: Dukascopy Bank SA
Bitcoin has broken past the strong resistance level at $111,000, reflecting solid buying interest and strong market sentiment. If this momentum continues, the price could climb toward the next target at $125,000. The current strength also suggests that Bitcoin may keep trading above its simple moving averages, which often supports sustained bullish trends.



However, the $120,000 resistance zone is expected to be a crucial level. A clear break and hold above this area would likely confirm further bullish momentum, opening the path for a push toward $125,000 and beyond. On the other hand, if Bitcoin struggles to overcome $120,000, it could trigger a period of consolidation or a minor pullback before attempting another move higher.
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