Bitcoin is approaching a critical technical and psychological level at $120,000. The daily chart reflects a “calm before volatility,” suggesting a major move is imminent.
Ichimoku cloud remains bullish as price trades above Kumo and Chikou Span confirms upward range.
However, cloud narrows and fades at Senkou Span, signaling momentum may be weakening.
Volume Profile highlights a strong liquidity base around $105K–$107K—a potential fallback if buyers can’t breach 120K.
Above 120K lies thin liquidity, risking a swift move toward $128K–$130K on a breakout.
Additionally, a Fair Value Gap near $115K offers support if rejection occurs, while a drop below might expose the lower liquidity bucket near 105K.
Ichimoku cloud remains bullish as price trades above Kumo and Chikou Span confirms upward range.
However, cloud narrows and fades at Senkou Span, signaling momentum may be weakening.
Volume Profile highlights a strong liquidity base around $105K–$107K—a potential fallback if buyers can’t breach 120K.
Above 120K lies thin liquidity, risking a swift move toward $128K–$130K on a breakout.
Additionally, a Fair Value Gap near $115K offers support if rejection occurs, while a drop below might expose the lower liquidity bucket near 105K.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.