{"id":69616,"date":"2025-05-28T00:00:23","date_gmt":"2025-05-28T00:00:23","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=69616"},"modified":"2025-05-28T00:00:23","modified_gmt":"2025-05-28T00:00:23","slug":"bitcoin-price-bounces-off-re-accumulation-zone-why-120000-could-be-next","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=69616","title":{"rendered":"Bitcoin Price Bounces Off Re-Accumulation Zone: Why $120,000 Could Be Next"},"content":{"rendered":"

A new Bitcoin price analysis<\/a> confirms that the flagship cryptocurrency is still in a bullish trend after its recent bounce off a key re-accumulation zone. With key structural support levels intact and a bullish AB=CD pattern unfolding, analysts are now eyeing a potential surge above $120,000, marking a new all-time high<\/a>.\u00a0<\/p>\n

Bitcoin Price Targets $122,000 After AB=CD Completion<\/h2>\n

According to a technical analysis report<\/a> by TradingView crypto analyst Weslad, Bitcoin is accurately following a well-defined bullish trajectory<\/a>, potentially paving the way for a surge to $122,000. With BTC now priced at $109,747 at the time of writing, reaching this ATH target would represent an 11.17% increase from current levels.<\/p>\n

This optimistic forecast comes on the heels of an accurate AB=CD pattern<\/a> on the BTC chart\u2014-a harmonic structure that previously hinted at significant upside potential. Notably, the Bitcoin price has since retraced into a key re-accumulation zone<\/a> between $104,000 and $107,000 \u2014 a move the analyst described as a healthy correction rather than a reversal.<\/p>\n

Weslad has disclosed that the present re-accumulation zone is a price range where buyers are believed to be stepping in again. As long as Bitcoin stays within or above this zone, the analyst asserts that its market will remain bullish.\u00a0<\/p>\n

Currently, Bitcoin is trading well-above the crucial psychological support of $100,000<\/a>, reinforcing its bullish position. The broader market structure also remains intact within an Ascending Channel<\/a>, supported by higher timeframe demand zones.\u00a0<\/p>\n

According to Weslad\u2019s analysis, if Bitcoin can firmly hold its price within the $104,000 \u2013 $107,000 range, the cryptocurrency could see a significant increase to the 2.618 Fibonacci Extension level near $122,000. Adding to this bullish case, a breakout above the $112,000 resistance is also needed to confirm the next leg of this move, marking a potentially stronger and larger upside momentum<\/a>.<\/p>\n

BTC Set For Major Pullback Before Breakout<\/h2>\n

As the Bitcoin price approaches the local resistance around $111,000, Weslad warns that the market may face a temporary hurdle<\/a> before the continuation of the projected uptrend. The TradingView analyst notes that if price action is rejected at this resistance level, traders should anticipate a potential re-test of the $107,000 \u2013 $108,000 region.\u00a0<\/p>\n

This area has served as a reliable barrier during the recent consolidation phase and is expected to hold firm in the event of a minor correction. Most recently, Weslad affirmed that this anticipated corrective move has already concluded, signaling that the market is now poised for the \u201creal growth phase.\u201d<\/p>\n

With the base demand zone around $86,000 \u2013 $91,000 and strong support around $96,000 \u2013 $99,000, Bitcoin\u2019s overall structure remains bullish<\/a> unless a decisive breakdown below $100,000 occurs. Until then, all eyes remain on the $112,000 breakout level, which could trigger a potential surge toward the projected $122,000 target.<\/p>","protected":false},"excerpt":{"rendered":"

A new Bitcoin price analysis confirms that the flagship cryptocurrency is still in a bullish trend after its recent bounce off a key re-accumulation zone. With key structural support levels intact and a bullish AB=CD pattern unfolding, analysts are now eyeing a potential surge above $120,000, marking a new all-time high.\u00a0 Bitcoin Price Targets $122,000 […]<\/p>\n","protected":false},"author":0,"featured_media":69617,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-69616","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69616"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=69616"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/69616\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/69617"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=69616"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=69616"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=69616"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}