{"id":25577,"date":"2025-07-25T11:00:02","date_gmt":"2025-07-25T08:00:02","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-price-retreats-after-testing-120000-level\/"},"modified":"2025-07-25T11:00:02","modified_gmt":"2025-07-25T08:00:02","slug":"bitcoin-price-retreats-after-testing-120000-level","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-price-retreats-after-testing-120000-level\/","title":{"rendered":"Bitcoin Price Retreats After Testing $120,000 Level"},"content":{"rendered":"<p>On July 24, the price of the leading cryptocurrency retreated from the resistance level of $120,000. This may indicate selling by participants holding positions at this threshold.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXdFjjjNem-Lpv56oIaGN6Ceg1QmoeUfr-TIWjENaeVRNuRIchMByafpw_cpW_lAZPnc87h9XY-tdxol2NVsccGg9LyAAgA8ezcJkqKlKGhvFKeTqgQGeom9JifincFA9F1jUZk_?key=1rFJxZDk1bY1ziZCHxsEtQ\" alt=\"Bitcoin price retreats after testing $120,000 level\"\/><figcaption class=\"wp-element-caption\">Daily chart of BTC\/USD on Binance. Source: <a href=\"https:\/\/www.tradingview.com\/chart\/?symbol=BINANCE%3ABTCUSD\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>At the time of writing, digital gold is trading at $115,715 (-2% for the day), according to <a href=\"https:\/\/www.coingecko.com\/en\/coins\/bitcoin\">CoinGecko<\/a>.<\/p>\n<p>Following the unsuccessful breakout attempt, the net capital outflow from spot Bitcoin ETFs in the US amounted to $285.2 million over three days, according to Farside Investors. This may suggest short-term investor caution.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXeEgr4kF4QkDLyqpirdgyC8xViTgk3LVnnTt0rJaJ5Z3Gg8R7GWEnwBRLKLuUE9DMuit3MRt9iI8eJqHban0ecvyUn8zamaJuQlFq0dTDutlidGCIyByq04nSxRkVZBpVTX-ZEo?key=1rFJxZDk1bY1ziZCHxsEtQ\" alt=\"Bitcoin price retreats after testing $120,000 level\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/farside.co.uk\/btc\/\">Farside Investors<\/a>.<\/figcaption><\/figure>\n<p>A positive factor remains the price holding above $115,000. The asset is squeezed between the 20-day simple moving average (SMA) at $115,961 and resistance at $120,000.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-qw.googleusercontent.com\/docsz\/AD_4nXd1vv-jW5SfiSKZhLXmV6pHUgii15677r828JbHKIj-Qbhj14kz5lt6jdtuO8pUMTa7V6X5g8YvFRdO5TbNHQv5E12xVVEiaE-PoXLaieiAxSGxWYfM3QsYtY8nUtNB2v_hw1ZN4g?key=1rFJxZDk1bY1ziZCHxsEtQ\" alt=\"Bitcoin price retreats after testing $120,000 level\"\/><figcaption class=\"wp-element-caption\">Source: <a href=\"https:\/\/cointelegraph.com\/news\/bitcoin-consolidation-expected-to-end-with-impulse-move-to-dollar135k-data\">Cointelegraph<\/a>, TradingView.<\/figcaption><\/figure>\n<h2 class=\"wp-block-heading\">Forecasts<\/h2>\n<p>The rising 20-day SMA and the relative strength index (RSI) in the positive zone indicate potential for growth. If buyers can push the price above the resistance zone of $120,000-$123,218, Bitcoin will resume its upward trend. The next targets will be $135,729 and $150,000.<\/p>\n<p>The first sign of weakness will be a close below the 20-day SMA. This will signal profit-taking by buyers. In this case, the price may drop to the support level of $110,530. A break of this level will strengthen the sellers&#8217; position.<\/p>\n<p>Back in earlier reports, on-chain analyst James Check <a href=\"https:\/\/u1f987.com\/en\/news\/glassnode-low-trading-volume-hinders-bitcoins-path-to-200000\">believes<\/a> that the leading cryptocurrency is unlikely to reach $200,000 this year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On July 24, the price of the leading cryptocurrency retreated from the resistance level of $120,000. This may indicate selling by participants holding positions at this threshold. Daily chart of BTC\/USD on Binance. Source: TradingView. At the time of writing, digital gold is trading at $115,715 (-2% for the day), according to CoinGecko. Following the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":25576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1253],"class_list":["post-25577","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-technical-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"103","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/25577","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=25577"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/25577\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/25576"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=25577"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=25577"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=25577"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}