BTC Next Target: Buy For $120k at These Levels

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Bitcoin (BTC) is currently trading at approximately $104,605, reflecting a 2.20% decrease over the past 24 hours. The price has experienced fluctuations, with an intraday high of $106,973 and a low of $104,605.

This downturn is attributed to renewed global geopolitical tensions and macroeconomic uncertainty, which have led to a broader pullback in the crypto market.

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BTC Next Target

  • Current Price: $104,605
  • 24h Price Change: -2.20%
  • 24h Range: $104,605 – $106,973
  • Market Cap: ~$2.09 trillion
  • 24h Trading Volume: ~$42.12 billion
BTC Next Target

Price had a bearish breakout from Rising Wedge, and below $108K key level (prior ATH), which could signal further weakness near-term, with downside potential to $100K support. That would be a buying opportunity.

Overall, BTC remains in a solid uptrend (above 200 SMA) and could attack $120K next. 


Key Technical Indicators

  • Relative Strength Index (RSI): Below 50 (Neutral to Bearish)
  • MACD: Bearish crossover observed
  • Support Levels: $104,000, $102,500
  • Resistance Levels: $107,500, $110,000
  • Trend Overview: Sideways with potential for further decline if support levels break

Latest Bitcoin News & Developments

  • Market Reaction to Global Events: Bitcoin’s dip below $106,000 is being driven by rising geopolitical tensions and economic uncertainty in major economies.
  • Stable Derivatives Market: Funding rates remain stable while open interest is rising, suggesting cautious optimism among leveraged traders.
  • Investor Sentiment Mixed: Short-term sentiment is turning cautious as traders await clearer macroeconomic signals.

👉 Short-Term Forecast: Neutral to Bearish
📉 Risk Level: Medium to High due to external macroeconomic factors

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Harsh Panghal
Harsh Panghal

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