- An Expert shares $97K and $99K as notable zones to watch for Bitcoin’s next bullish move.
- Bitcoin targets $105K, $112K, and $120K based on breakout patterns and prominent technical indicators.
- Fibonacci levels present critical support and resistance zones as traders plan for the next price surge.
Bitcoin could climb to $120,000, according to technical analyst Rose Premium, who detailed specific levels and bullish signals for traders.
Source: Rose Premium
Support Levels and Risk Management
Rose Premium identified $97,000 and $99,000 as vital levels for traders to enter the market and benefit from the next bullish move. These zones are expected to serve as support areas before Bitcoin continues its upward journey toward higher targets.
The Fibonacci estimation tool clarifies these levels, with 0.618 and 0.786 acting as zones for possible pullbacks. The inclusion of a stop-loss at $89,000 helps traders limit risks in case the price drops below expectations.
These metrics give traders clear points to monitor while navigating Bitcoin’s price movement during this volatile period.
Bullish Price Targets and Key Breakout Pattern
Rose Premium set three progressive targets for Bitcoin, starting at $105,000, followed by $112,000, and reaching $120,000 at the peak of the bullish forecast.
The chart shared by the analyst displays a descending wedge pattern, which often signals a bullish breakout. Bitcoin has recently moved out of this structure, reinforcing confidence that it could sustain its upward trajectory.
The Fibonacci retracement levels, including 0.236 and 0.382, have also been identified as near-term resistance zones. Breaking through these levels will be critical for Bitcoin to reach the first milestone of $105,000 and beyond.
Community and Market Sentiment
Rose Premium’s analysis has drawn attention across social media, with many cryptocurrency traders expressing optimism about Bitcoin’s growth prospects. Comments such as “We are headed higher” and “Up we go” show strong confidence within the community.
This positive sentiment aligns with the chart’s indicators, which suggest Bitcoin has a high probability of achieving the outlined targets. The combination of clear support zones and breakout confirmation provides actionable insights for traders during Bitcoin’s current rally.
The question that remains is whether the token can maintain its upward momentum and reach the ambitious $120,000 milestone despite continuous price fluctuations.
