Bitcoin Price Targets $122,000 After Recent Bounce from Key Zone
Bitcoin is currently in a bullish trend after bouncing off a key re-accumulation zone. Analysts anticipate a potential price surge above $120,000, targeting $122,000 as the next all-time high.
Key Points
- Bitcoin is priced at $109,747, with an 11.17% increase needed to reach the $122,000 target.
- The current price retracement into a re-accumulation zone between $104,000 and $107,000 is considered a healthy correction.
- Staying within or above this range maintains a bullish market outlook.
- Holding above the psychological support of $100,000 reinforces the bullish position.
- A breakout above $112,000 is necessary for confirming further upward momentum.
- Potential hurdles are expected around $111,000, with a possible re-test of the $107,000 - $108,000 region if rejected.
- Overall bullish structure remains intact unless Bitcoin falls below $100,000.
