At the end of last week, headlines warned of Bitcoin potentially dropping back toward $115,000, raising fears of a larger downward correction. However, Monday morning paints a more optimistic picture: Bitcoin is trading just below the $120,000 mark, showing signs of solid recovery.
The catalyst for the rebound:
The newly reached trade agreement between the EU and the US, which avoids looming tariffs on most goods, has lifted overall market sentiment and given cryptocurrencies a noticeable boost as well.
🔍 $120,000 – The Key Technical Barrier
From a technical standpoint, Bitcoin now finds itself at a crucial level:
The $120,000 zone marks the final resistance before potential new all-time highs.
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If the breakout is successful, the path toward $125,000 appears clear in the short term.
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If it fails, we may see a temporary pullback – possibly to close the gap from Friday’s closing price.
🧠 Conclusion
Bitcoin is regaining its footing after a shaky previous week. The political breakthrough between Brussels and Washington has improved risk appetite, helping risk assets like BTC recover. Now, all eyes are on the $120,000 level – a decisive move above it could open the door to fresh all-time highs.
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