Bitcoin Tests Resistance

🔳Bitcoin is consolidating near $120,800 after rallying from $111,000, approaching a key Fibonacci resistance zone. A close above this level could open the path toward $124,500, while a pullback below $117,900 may send price back toward $111,000. For now, momentum indicators confirm buyer dominance.

🔳Investor sentiment is also supported by a net outflow of $83M from exchanges — a sign of accumulation — and MicroStrategy’s record Bitcoin holdings, now valued at $77.4B. These factors highlight growing institutional confidence and reinforce expectations for further upside.