📰 Bitcoin (BTCUSD) Faces Short-Term Resistance Near $123K Amid Whale Activity, Eyes $143K Rally

📅 Jul 20, 2025, 17:33 EDT | 🔗 Source: NewsBTC

🧠 Summary

Bitcoin surged to nearly $123,000 before facing resistance and falling over 2% amid bearish pressure. An on-chain expert highlights a critical price level acting as a resistance barrier, suggesting short-term pullback but keeping a $143,000 rally possible if surpassed.

💡 Why this signal?

  • Bitcoin’s recent failure to hold gains above $119,000 indicates weakening bullish momentum and increased selling pressure.
  • The identified Quasimodo Level pattern signals a likely short-term downtrend toward critical support around $113,600.
  • The potential Bitcoin decline threatens broader cryptocurrency markets, as altcoins often follow BTC’s lead and may suffer cascading outflows.

📈 BTCUSD Price Trend

⏱️ Impact Timing
as soon as the news is out
👥 Competitor Impact

No competitors impacted.

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