Key Takeaways:
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Bitcoin should take a resistance to $ 120,000 to trigger a rally to new all-time highs.
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The volume of spots and trading activities must be recovered to break the price of BTC.
The Bitcoin rally at all times high close to $ 123,000 appears to be cooling, but entrepreneurs believe BTC remains with “massive pump INMOMING” towards higher targets by 2025.
Many analysts explain what should happen to increase Bitcoin’s potential to break the price discovery in the following days or weeks.
Bitcoin needs to break the $ 120,000 resistance
Bitcoin (Btc) The price is that -oscillating between $ 120,000 and $ 115,000, where it found support, per data from Cointelegraph Markets Pro and Tradingview.
Bitcoin’s bullish case hinges at BTC prices flowing in the fight between $ 119,000 and $ 120,500 in support.
Related: Bitcoin approaches $ 120k as predicting assessment at the next price ‘next
The purpose of this week is for Bitcoin to “break above $ 120,500 with strength and volume,” Says Private wealth manager Swissblock in a Monday post in X.
The firm explained that the price was combined – with a descending triangle – a classic continuity pattern – suggesting that it was “just cooling, not falling.”
“The bulls are still in control,” Swissblock added.
Both analyst rekt capital Says That Bitcoin Bulls had to take weekly close to $ 119,200 to support by a retest to “confirm the breakout.”
Bitcoin did this
Bitcoin Weekly closed above ~ $ 119200 Bull Flag Top and is now in the process of rehesting it to fully confirm the breakout
Downside wicking is possible on this retest, as long as the top top is maintained as support$ Btc #Crypto #Bitcoin https://t.co/CQXKKQWLXP pic.twitter.com/rqd6erpei0
– Rect Capital (@rectcapital) July 28, 2025
As cointelegraph reportedBulls target to break $ 120,000- $ 123,000 immunity, with their eyes set on the next target to $ 130,000.
BTC new buyers should walk
Bitcoin’s ability to push above $ 120,000 appears to be limited due to the lack of consumers.
The Bitcoin area of the Cumulative Volume Delta (CVD) metric, an indicator that measures the difference of net between buying and selling trading quantities, shows that the net spot buying in exchanges remains negative.
However, this scale has improved from -$ 243.3 million to -$ 111.3 million, “reflecting a significant reduction in the dominance of the sale and growing interest of purchase,” Glassnode Says In the latest weekly impulse report on the market.
“This shift is likely to signal that the renewal of accumulation as the step of investors to buy the sink after the recent price correction, suggesting a more comprehensive emotion.”
If the purchase continues, it can be added to the demand-side pressure required to push Bitcoin from integration.
In addition, the trading volume of trade declined $ 8.6 billion from $ 9.2 billion last week, further emphasizing the lack of speculation.
Although not a significant collapse, the refusal points to “reduced investor activity,” Glassnode explained, adding:
“Moderation in this quantity suggests that participants may be in a wait-and-see mode with a lower belief to buy or sell aggressively.”
A raid on the volume of the area will be in line with a Greater stage of accumulationtriggered a strong rally.
Bitcoin should prove a falling wedge breakout
Technical bitcoins show that the price has been broken from a falling wedge pattern to the four -hour candle chart.
A falling wedge is a bullish chart pattern with converting trendlines that are decreasing, indicating that the sale pressure decreases. It often indicates a potential price breakout upside down.
“Bitcoin is broken from the falling pattern of this wedge,” Mister Crypto Says In a post of Tuesday X, adding:
“It’s a huge pump coming in.”
To confirm the breakout, the BTC/USD pair is required to retest the upper wedge border around $ 118,300 (where the 50-per-per-period SMA converts) and flip it to support.
According to Trader Crypto Boss, this retest has taken place, setting the stage for a rally at new all-time highs.
“$ BTC Breakout and Retest Done. Send it to new ATHS now.”
$ Btc Breakout and Retest Done. Send it to the new ATH now pic.twitter.com/yzshmlf7gh
– CryptoBoss (@cryptoboss1984) July 29, 2025
This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.
