Is a Bull Run Imminent as Bitcoin (BTC) Approaches $120,000?

Jakarta, Pintu News – Bitcoin (BTC) is now entering a new price zone with strong indications that its upward trend is far from over. After peaking at $111,800, Bitcoin (BTC) price action is experiencing a healthy pullback that does not detract from the existing structure. Instead, this pullback offers a setup opportunity for the next price spike.

Check out the full analysis here!

Key Technical Point

Since reaching a high of $111,800, Bitcoin (BTC) has experienced a pullback to a zone that now serves as critical support. The area around $106,500 has proven strong in recent sessions and is reinforced by the 0.618 Fibonacci level and the confluence of multiple moving averages.

These overlapping signals strongly validate that this is a natural higher low formation, not a failure. From the swing low of $91,500, Bitcoin (BTC) has consistently formed higher lows and higher highs, showing signs of a strong trend.

As long as $106,500 continues to hold, the momentum still favors the bulls. The current pause consolidates the uptrend, not a reversal or top pattern.

Also read: Bitcoin Surges to $109,000, Financial Markets Excited After Trump’s Decision!

Attractive Target Price

Currently, one of the most attractive targets is at the $120,000 level. This target is not arbitrary, but is derived from the 1,618 Fibonacci extension drawn from a low of $91,500 to a high of $111,800. This target also serves as a psychological stepping stone for traders and investors.

As momentum rebuilds, this becomes the next logical stop for the price, provided the support zone holds. If $106,500 continues to support, Bitcoin (BTC) will likely form the next higher low in the trend.

This will set the stage for a new leg up, with $120,000 as the next technical and psychological target. Momentum is in favor of the bulls, and a breakout could happen as soon as this week.

That’s the latest information about crypto. Follow us on Google News to stay up-to-date on the world of crypto and blockchain technology.

Enjoy an easy and secure crypto trading experience by downloading Pintu crypto app via Google Play Store or App Store now. Also, experience web trading with advanced trading tools such as pro charting, various types of order types, and portfolio tracker only at Pintu Pro. Pintu Pro Futures is also available, where you can buy bitcoin leverage, trade btc futures, eth futures and sol futures easily from your desktop!

*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Crypto News. Bitcoin Eyes $120k as Bullish Trend Holds Above Key Support. Accessed on May 27, 2025
• Featured image: Generated by AI