3 Reasons BTC Price Is Not Rallying to $120,000 or Higher

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Why Bitcoin‘s Dreams of $120,000 Are Just That: Dreams!

Ah, Bitcoin (BTC), that capricious creature of the digital realm! In the past 12 hours, it has risen a modest 3.38%, as if to mock the very notion of stability, attempting to recover from the brutal correction of Friday—a day that will live in infamy for many a trader. One might say it’s akin to a wounded beast, limping back to its lair, pondering the futility of its existence. 🐻

But let us not be deceived by this fleeting rise! The technical and on-chain data whisper ominously in our ears, revealing why the price of BTC revisiting its all-time high of $111,959.5—or, heaven forbid, a push toward the mythical $120,000—is as likely as a snowball’s chance in hell. ❄️🔥

Why BTC Price Climbing to $120,000 is Unlikely?

In the grand tapestry of time, one might argue that Bitcoin (BTC) is destined to set an ATH beyond $120,000. The higher timeframe outlook, after all, is largely bullish, like a hopeful optimist in a Dostoevskian novel. Yet, in the murky waters of the lower timeframe, the BTC price remains bearish, weighed down by three critical signals that would make even the most stoic of souls weep:

  • First, the technicals suggest a potential reversal or a short-term correction is due. Ah, the irony! Just when you think you’ve grasped the elusive nature of BTC, it slips through your fingers like sand.
  • Second, the whales—those mighty holders of between 100K to 1M BTC—are reducing their stacks. It’s as if they’ve decided to take their marbles and go home, leaving the rest of us to ponder the meaning of life without their grandiose presence.
  • Lastly, blockchain data reveals a clear profit-taking activity. The very essence of capitalism, isn’t it? To take what one can before the inevitable crash! 💰

These key developments suggest that a short-term pause or a pullback is not just likely; it is practically guaranteed. One can almost hear the collective sigh of traders everywhere, as they brace themselves for yet another round of existential dread.

And lo! Bitcoin’s weekly chart flashes a bearish swing failure pattern, a harbinger of doom for those who dare to dream of riches. The weekly candlestick close shows Bitcoin (BTC) price breached the previous… Ah, but dear reader, I must leave you in suspense, for the tale continues at Coingape.com.

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2025-05-26 17:18