Bitcoin analysts say this must happen for BTC price to hit new highs

18 hours ago

Key takeaways:

Bitcoin indispensable instrumentality retired absorption astatine $120,000 to trigger a rally to caller all-time highs.
Spot measurement and trading enactment indispensable retrieve for BTC terms to interruption out.

Bitcoin’s rally to its all-time highs adjacent $123,000 appears to beryllium cooling off, but traders judge BTC remains connected way with “massive pump incoming” toward higher targets successful 2025.

Several analysts explicate what indispensable hap to summation Bitcoin’s imaginable to interruption into terms find successful the pursuing days oregon weeks.

Bitcoin indispensable ace $120,000 resistance

Bitcoin (BTC) terms has been oscillating betwixt $120,000 and $115,000, wherever it has recovered support, per information from Cointelegraph Markets Pro and TradingView.

Bitcoin’s bullish lawsuit hinges connected its BTC terms flipping the absorption betwixt $119,000 and $120,500 into support.

This week’s extremity is for Bitcoin to “break supra $120,500 with spot and volume,” said backstage wealthiness manager Swissblock successful a Monday station connected X.

The steadfast explained that the terms is consolidating successful a descending triangle — a classical continuation signifier — which suggests that it is “just cooling off, not breaking down.”

“Bulls are inactive successful control,” Swissblock added.

Fellow expert Rekt Capital said that Bitcoin bulls needed to crook the play adjacent astatine $119,200 into enactment done a retest to “confirm breakout.”

— Rekt Capital (@rektcapital) July 28, 2025

As Cointelegraph reported, the bulls were targeting to interruption the $120,000-$123,000 absorption zone, with their eyes acceptable connected the adjacent people astatine $130,000.

New BTC buyers indispensable measurement in

Bitcoin’s quality to propulsion supra $120,000 appears constricted owed to the lack of buyers.

Bitcoin’s spot cumulative measurement delta (CVD) metric, an indicator that measures the nett quality betwixt buying and selling commercialized volumes, reveals that nett spot buying connected exchanges remains negative.

However, this metric has improved from -$243.3 cardinal to -$111.3 million, “reflecting a important simplification successful sell-side dominance and increasing buy-side interest,” Glassnode said successful its latest Weekly Market Impulse report.

“This displacement apt signals renewed accumulation behaviour arsenic investors measurement successful to bargain the dip aft the caller terms correction, suggesting a much constructive sentiment.”

If the buying continues, it could adhd to the demand-side unit needed to propulsion Bitcoin retired of consolidation.

Additionally, spot trading measurement has declined to $8.6 cardinal from $9.2 cardinal implicit the past week, further underscoring the deficiency of speculative intensity.

While not a important drop, the diminution points to “reduced capitalist activity,” Glassnode explained, adding:

“This moderation successful measurement suggests that participants mightiness beryllium successful a wait-and-see mode with little condemnation to bargain oregon merchantability aggressively.”

An uptick successful spot measurement would align with a broader accumulation phase, triggering a beardown rally.

Bitcoin indispensable validate a falling wedge breakout

Bitcoin technicals amusement that the terms has breached retired of a falling wedge signifier connected the four-hour candle chart.

A falling wedge is simply a bullish illustration signifier with converging trendlines sloping downward, indicating decreasing selling pressure. It often signals a imaginable terms breakout to the upside.

“Bitcoin has breached retired of this falling wedge pattern,” Mister Crypto said successful a Tuesday X post, adding:

“Massive pump incoming.”

To corroborate the breakout, the BTC/USD brace was required to retest the precocious bound of the wedge astir $118,300 (where the 50-period and 100-period SMAs converge) and flip it into support.

According to trader Crypto Boss, this retest has already occurred, mounting the signifier for a rally to caller all-time highs.

“$BTC breakout and retest done. Send it to caller ATHs now.”

$BTC breakout and retest done. Send it to caller ATH present pic.twitter.com/YzShMlf7GH

— CryptoBoss (@CryptoBoss1984) July 29, 2025

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

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