Bitcoin Breaks $109K Briefly: Will $120K Be the Next Stop?

Bitcoin made a new all-time high at $109K, claiming a valuation well-above $2 trillion. Bitcoin needs to pull off a weekly close above $103,000 for a solid retest of $127K, said an analyst. Bitcoin technicals are highly bullish as the cryptocurrency soared from $99K to $109K in a matter of hours. Bitcoin (BTC) achieved a new all-time high of $109,114.88 earlier today, briefly reclaiming a valuation of $2.15 trillion. The leading cryptocurrency rose 3.82% in the past 24 hours but has since slipped to $108,241.38, marking a 1.2% decline from its peak. Crypto analyst EGRAG CRYPTO emphasized the importance of BTC closing a four-hour candle above $109K to sustain momentum toward $120,000. Without this confirmation, he believes the rally may stall. #BTC – It did no close as NEW ATH: Now let us try the second Candle 3 hours 55 mins to go https://t.co/2SywmUxcxB pic.twitter.com/GwZxsRdQEl — EGRAG CRYPTO (@egragcrypto) January 20, 2025 Previously, EGRAG suggested that Bitcoin needs to close a weekly candle above $103,000 to set the path for a test of $127,000. However, the analyst also warned that a retest of $77,000–$80,000 could occur before further upside.… The post Bitcoin Breaks $109K Briefly: Will $120K Be the Next Stop? appeared first on Coin Edition .