Bitcoin Price Today: Can BTC Reclaim $120K as Momentum Stalls Below Apex?
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The Bitcoin price today is trading near $118,400 after failing to hold above the $120,000 breakout level. While momentum from early July’s rally pushed BTC toward fresh 2025 highs, recent candles show signs of exhaustion below the upper boundary of a key ascending triangle. This structural slowdown is accompanied by mixed derivatives signals and fading dominance, suggesting bulls are facing increasing resistance.
What’s Happening With Bitcoin’s Price?
On the 4-hour chart, Bitcoin price action remains above the 20/50/100/200 EMA cluster, which now aligns between $116,420 and $113,653, suggesting buyers still have medium-term control. However, price is struggling to close above the Bollinger Band mid-line at $118,727, while the upper band near $122,056 continues to reject further upside. Recent candlesticks display lower wicks and reduced body size, a sign of buyer hesitation near key resistance.
On the daily chart, BTC recently broke out from a long-term ascending triangle but is now stalling near the horizontal resistance at $120,000. This zone, previously untapped …
The post Bitcoin Price Today: Can BTC Reclaim $120K as Momentum Stalls Below Apex? appeared first on Coin Edition.
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