{"id":910,"date":"2025-05-26T14:07:52","date_gmt":"2025-05-26T14:07:52","guid":{"rendered":"https:\/\/bitunikey.com\/news\/bitcoin-eyes-120k-as-bullish-trend-holds-above-key-support\/"},"modified":"2025-05-26T14:07:54","modified_gmt":"2025-05-26T14:07:54","slug":"bitcoin-eyes-120k-as-bullish-trend-holds-above-key-support","status":"publish","type":"post","link":"https:\/\/bitunikey.com\/news\/bitcoin-eyes-120k-as-bullish-trend-holds-above-key-support\/","title":{"rendered":"Bitcoin eyes $120k as bullish trend holds above key support"},"content":{"rendered":"<div class=\"post-detail__content blocks\">\n<p class=\"is-style-lead\">With the bullish trend still intact and support levels holding, Bitcoin could be preparing for an impulsive move to the $120,000 extension target.<\/p>\n<p>Bitcoin (BTC) has entered a new price zone and is showing strong signs that the uptrend is far from over. After hitting $111,800, price action has pulled back, but not in a way that invalidates the structure. In fact, the retracement appears healthy and technically sound, offering a potential setup for another leg higher.<\/p>\n<h2 class=\"wp-block-heading\">Key technical points<\/h2>\n<ul class=\"wp-block-list\">\n<li>Price has retraced into a key support level at $106,500, which aligns with two major moving averages and the 0.618 Fibonacci retracement.<\/li>\n<li>Structure remains bullish, with a clear sequence of higher highs and higher lows from the $91,500 swing low.<\/li>\n<li>Fibonacci extension from the most recent impulse projects a target of $120,000, offering a technically sound next milestone.<\/li>\n<\/ul>\n<figure class=\"wp-block-image size-large\"><picture loading=\"lazy\" decoding=\"async\" class=\"wp-image-14383011\"><source type=\"image\/webp\" ><\/source><\/p>\n<\/picture><figcaption class=\"wp-element-caption\">BTCUSDT (4H) Chart, Source: <a rel=\"nofollow\" target=\"_blank\" rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tradingview.com\/?aff_id=140857\">TradingView<\/a><\/figcaption><\/figure>\n<p>Since establishing the $111,800 high, Bitcoin has pulled back into a zone that now acts as critical support. This region around $106,500 has held firm over recent sessions and is bolstered by the presence of the 0.618 Fibonacci level and a confluence of moving averages. These overlapping signals add strong validity to the idea that this is a natural higher low formation, not a breakdown.<\/p>\n<p>The bullish market structure remains intact. From the key swing low at $91,500, Bitcoin has consistently carved out higher lows and higher highs which represents signs of a strong trend. As long as $106,500 continues to hold, momentum remains with the bulls. The current pause in the market appears to be a consolidation within an uptrend rather than a reversal or topping pattern.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p>\n<p>One of the most compelling targets now lies at the $120,000 level. This target isn\u2019t arbitrary, it\u2019s derived from a 1.618 Fibonacci extension drawn from the $91,500 low to the $111,800 high. It also serves as a psychological milestone for traders and investors alike. As momentum rebuilds, this becomes the most logical next stop for price, provided the support zone holds.<\/p>\n<h2 class=\"wp-block-heading\">What to expect in the coming price action<\/h2>\n<p>If $106,500 continues to act as support, Bitcoin is likely forming its next higher low within the trend. This would set the stage for a fresh leg higher, with $120,000 as the next major technical and psychological target. Momentum favors the bulls, and a breakout could arrive as soon as this week.<\/p>\n<p>    <!-- .cn-block-related-link --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>With the bullish trend still intact and support levels holding, Bitcoin could be preparing for an impulsive move to the $120,000 extension target. Bitcoin (BTC) has entered a new price&hellip;<\/p>\n","protected":false},"author":1,"featured_media":911,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/910","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/comments?post=910"}],"version-history":[{"count":1,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/910\/revisions"}],"predecessor-version":[{"id":912,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/posts\/910\/revisions\/912"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media\/911"}],"wp:attachment":[{"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/media?parent=910"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/categories?post=910"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitunikey.com\/news\/wp-json\/wp\/v2\/tags?post=910"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}