Bitcoin’s $120K Case: Built on Charts, Confirmed by a $600M ETF Flood

Major institutions like BlackRock and Fidelity just poured over $600 million into U.S. Bitcoin ETFs This institutional buying provides hard-money confirmation for technical analyses targeting $120K On-chain data also shows the biggest weekly spike in “whale” accumulation since early 2024 Evidence is mounting that Bitcoin may be preparing for another major rally, as technical chart patterns, on-chain whale activity, and a surge in institutional buying all begin to point in the same direction. As of this press time, Bitcoin trades at $108,853, up 0.5% over the last 24 hours. Analysts are now eyeing the $120,000 level as a potential near-term target, citing a layered case for a sustained upward move if key support levels hold. The Charts: Two patterns to prove a BTC breakout to $120k The bullish case starts with the technicals. Analyst Lark Davis through a tweet yesterday sharing a chart showing Bitcoin breaking above a descending trendline, signaling the end of a consolidation phase. This setup of a symmetrical triangle breakout pattern often formed before strong price surges. Related: Whales Are Buying Again: 3 Coins They’re Stacking for 2025 Da… The post Bitcoin’s $120K Case: Built on Charts, Confirmed by a $600M ETF Flood appeared first on Coin Edition .

Source: Coin Edition