By Chris Hollingworth 
Bitcoin has been encountering resistance around the $120,000 mark, yet buyers have remained active, potentially setting the stage for a bullish breakout. Despite facing selling pressure at this key level, the cryptocurrency market is witnessing strong support from buyers, indicating a possible upward momentum.
The $120,000 price point has proven to be a significant psychological barrier for Bitcoin, with investors closely monitoring its ability to break through this resistance level. The persistent buying interest suggests that there is a growing optimism among market participants, potentially leading to a sustained upward trend in the near term.
While the resistance near $120,000 remains a key hurdle for Bitcoin, the current market dynamics indicate a strong bullish sentiment. Traders and investors are closely watching for a potential breakout above this level, which could trigger further buying interest and propel Bitcoin to new highs.
Overall, the cryptocurrency market is showing resilience in the face of selling pressure, with buyers demonstrating their conviction in the potential for Bitcoin to continue its upward trajectory. As the market continues to evolve, investors will be closely monitoring price movements and key resistance levels to gauge the future direction of Bitcoin.
