Bitcoin
|4 min ReadBitcoin pushes into resistance with $120,000 in sight
Maya Chen
Senior Analyst
Published
Jan 16, 2026
The setup: pressure builds below $120,000
You feel it. The coil is tight. Miss this and you chase higher.
Bitcoin traded at 115,051 as of Sept. 15, 2025. Market cap stood at 2.29 trillion. The 24-hour volume hit 39.26 billion. The intraday range was 114,790 to $116,689. That is tight. That is a spring.
The daily read is simple. Price is recovering after a pullback from 124,517. We see higher lows and higher highs. Support sits at 112,000 to 113,000. Buyers defended that zone before. Momentum stalled near 116,000. The candles are small. Bulls hesitate. A daily close above 117,000 opens the path to 120,000. A break below $110,000 kills the structure.
Blueprint: levels that decide the next leg
The 4-hour shows a box.
116,805. Sideways. Low volume. The market waits for a spark. A flat top forms near resistance. Break 116,800 with volume and the continuation is live. Fail there, and a check back to 114,000 for support makes sense. Strong resistance sits at
118,000. That band can cap the first thrust.Zoom in to the 1-hour. Bears punched at 116,700. A bearish engulfing sent price to 114,600. Price struggled to reclaim 115,500. A mini double top formed. Watch 114,500. Lose it on volume and 113,000 comes fast. Reclaim 115,500 with force and $116,200 is the quick target.
What it means right now
Indicators split. The RSI reads 56. That is neutral. The Stochastic sits at 85. Also neutral. The CCI prints 123 and signals a negative condition. The momentum indicator at 4,480 supports that view. The MACD at 443 is bullish. The ADX at 18 says no strong trend.
Moving averages lean green. EMAs for 10, 20, 30, 50, 100, and 200 periods signal bullish conditions. They range from
105,287. SMAs agree, with the 200-period SMA at 102,658. These sit beneath price and support a push higher if buyers hold the line. The key failsafe is 110,000.Here is the verdict.
Bull case: hold above
116,800, close above 117,000, and 120,000 is next. Bear case: fail to reclaim
114,500, and 113,000 opens below. Lose 110,000 and the recovery breaks.This is a live tape. The blueprint is there. You know the levels. Act before the crowd or pay up later.
Reporting based on analysis by Jamie Redman.
Disclaimer: This document is intended for informational and entertainment purposes only. The views expressed in this document are not, and should not be taken as, investment advice or recommendations. Recipients should do their own due diligence, taking into account their specific financial circumstances, investment objectives and risk tolerance, which are not considered here, before investing. This document is not an offer, or the solicitation of an offer, to buy or sell any of the assets mentioned.