‎Bitcoin Stalls Below $120K as Market Enters Consolidation Phase

‎BTCUSD Market Analysis – July 20

‎Bitcoin stalls below the $120K mark as bullish momentum takes a breather, leading the market into a temporary consolidation phase.

‎Bitcoin (BTCUSD) Key Levels

‎Support Levels: ,$112,800.00, $105,200.00
‎Resistance Levels: $120,300.00, $125,500.00

BTCUSD Long-Term Trend: Bullish

‎After surging to the $105,200 level, Bitcoin entered its first consolidation phase in early June 2025. This period of indecision was relatively short-lived, lasting until early July when the price broke out bullishly. The upward momentum propelled BTCUSD beyond the $112,800 mark, extending toward the $120,300 supply zone where the rally encountered resistance.
‎
‎At this supply level, price momentum slowed as Bitcoin entered another consolidation range. The daily Relative Strength Index (RSI) currently shows overbought conditions, which increases the possibility of a short-term bearish retracement. This pause is interpreted as a healthy correction within an overall bullish market structure.
‎
‎Despite the temporary halt in upward movement, the bullish trend remains intact. The ongoing consolidation is expected to persist in the near term, particularly while the daily RSI trends downward. The $112,800 level, previously broken as resistance, could now serve as a key demand zone offering potential support if price pulls back.

‎BTCUSD Medium-Term Trend: Ranging

‎On the 4-hour chart, Bitcoin struggles to decisively break and hold above the $120,300 resistance level. Although price momentarily breached this zone, it was quickly met with a sharp bearish reaction, pushing it back within the consolidation range.
‎
‎The Relative Strength Index on the 4-hour timeframe signals weakening bullish strength, suggesting short-term bearish pressure. However, as long as price remains within this consolidation zone and above key support levels, the structure maintains its bullish bias. A continuation of the ranging behavior may precede the next bullish breakout.

Make money without lifting your fingers: Start using a world-class auto trading solution 

Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset, product, or event. We are not responsible for your investment results.