Bitcoin’s Bullish Momentum Targets $120K Amid Consolidation Near Key Levels

• Bitcoin’s $90K-$92.5K support zone sees active buying, reinforcing bullish momentum toward a $120K target.
• Resistance at $110K-$112.5K limits upward moves, with sustained momentum above it signaling a potential breakout.
• Rhythmic cycles show consolidation and liquidity buildup, shaping Bitcoin’s trajectory as it approaches its next bullish leg.

Bitcoin (BTC/USD) shows signs of bullish momentum, with the $90,000 to $92,500 range acting as a robust support zone. The 12-hour chart highlights consistent rebounds from this region, signaling active buying pressure. Market participants view this area as a long-entry zone for potential gains. Analyst Doctor Profit confirms that long orders remain strong within this range, positioning traders for the next upward move. Bitcoin’s next target lies at $120,000, following the conclusion of its current sideways consolidation phase.

Key Support and Resistance Levels Define the Trend

Bitcoin’s price action reveals a clear trend of higher highs and consolidations after rebounding from the $90,000 support zone. Besides, the 200-day moving average reinforces this support, creating a dependable foundation for buyers. Consequently, this level has avoided any breakdowns.

Additionally, the resistance zone between $110,000 and $112,500 acts as a barrier to further upward movement. Attempts to break above this range have met retracements, returning prices to support. Moreover, the $120,000 is the next critical target for Bitcoin. This level represents the anticipated breakout point for bullish continuation.

Market Cycles Show Repetitive Patterns

The market exhibits rhythmic cycles, oscillating between support and resistance zones. Hence, consolidation phases within these ranges signal preparation for the next directional move. Furthermore, these cycles create liquidity zones where traders actively enter or exit positions, enhancing trading volume.

Alternating bullish and bearish candlesticks reflect indecision among market participants. However, rebounds from support align with upward momentum, driving Bitcoin closer to its resistance levels. Sustained momentum above the $112,500 resistance could trigger Bitcoin’s next leg up toward $120,000.

Bullish Sentiment Dominates the Outlook

Doctor Profit emphasizes the importance of the $90,000 to $92,500 range as a long-entry region. This zone has consistently supported rebounds, reinforcing Bitcoin’s bullish sentiment. Besides, the absence of downward breaches highlights the market’s strength.

The interplay between support, resistance, and trendlines shapes Bitcoin’s future trajectory. Traders closely monitor consolidation and breakout patterns as Bitcoin approaches its $120,000 target. The market’s outlook remains optimistic for bullish continuation.