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Bitcoin’s rally is gaining steam as it pushes higher following a key breakout, setting its sights on the $130,000 target. With momentum indicators staying firm and market sentiment turning increasingly bullish, the stage could be set for another powerful leg up.
Bitcoin Breaks Macro Resistance: Bulls Take Full Control Above $121k
TARA, a prominent crypto analyst, recently shared an update highlighting Bitcoin’s latest technical breakout. According to TARA, BTC has successfully broken above the macro 1.618 resistance level at $121,500, marking a major bullish milestone in the current market structure. This decisive move reinforces Bitcoin’s strong momentum, suggesting that the next upward wave is already unfolding.
In the analysis, TARA explained that the Relative Strength Index (RSI) has not yet shown any bearish divergence on higher time frames, which is an encouraging sign. With momentum still favoring buyers, she identified the next major target resistance at $125,900, representing subwave 3 in the ongoing bullish formation. However, the analyst advises monitoring the RSI closely once the price approaches that zone, as it may provide early indications of market exhaustion.
TARA also outlined a potential shallow retracement toward $119,300 temporarily. This minor correction, she noted, would be a healthy reset within the broader uptrend, allowing the market to gather strength for the next leg higher.
Looking ahead, the analyst projected a final wave extension that may push Bitcoin toward the 0.618 Fibonacci target near $130,800. The RSI’s behavior around this level will be particularly important; if momentum continues to show strength and forms a new high, another subwave 4–5 structure could emerge, paving the way for even higher price action in the coming weeks.
Bullish Structure Intact As BTC Maintains Strength Above $120k
Crypto VIP Signal, in a recent post, highlighted that Bitcoin has officially moved past the $120,000 milestone, signaling renewed bullish momentum in the market. As anticipated, the flagship asset pushed toward the next key resistance zone.
According to the analysis, the critical resistance level to watch lies at $124,500. A confirmed breakout above this area could trigger a wave of fear of missing out (FOMO) among traders, potentially driving prices significantly higher as momentum builds. Such a move would reinforce Bitcoin’s dominant position in the ongoing bullish structure.
For now, the $120,000 level stands as a solid support area, maintaining the overall bullish outlook. As long as Bitcoin holds above this zone, sentiment is expected to remain positive, with traders closely monitoring price action for confirmation of the next breakout toward higher resistance levels.
