Bitcoin Could Flip $123K Into Support, Potentially Paving Way for 20–30% Rally on Strong On-Chain Data

COINOTAG recommends • Exchange signup Trade with pro tools Fast execution, robust charts, clean risk ￰0￱ account → Bitcoin price is attempting to flip $123,000 into support; sustained weekly closes above this level could trigger a 20–30% rally toward $130K–$133K. Strong on‑chain indicators—99.4% of supply in profit—and rising exchange activity underpin bullish momentum in the near ￰1￱ aims to flip $123K to support to set the stage for a 20–30% rally. On‑chain metrics show 99.4% of BTC supply in profit, indicating broad holder ￰2￱ targets cluster at $130K–$133K as retail and institutional activity rises; 24h volume exceeded $70.9B. Bitcoin price: BTC attempts to flip $123K into support, signaling a possible 20–30% ￰3￱ on-chain data, analyst targets, and key ￰4￱ ￰5￱ attempts to flip $123K into support as analysts project a 20–30% rally, backed by strong on-chain data and rising ￰6￱ COINOTAG | Published: October 7, 2025 | Updated: October 7, 2025 How is Bitcoin price attempting to flip $123K into support?

Bitcoin price is testing its prior ATH region near $123,000 and forming higher lows, with traders watching for multiple weekly closes above that ￰7￱ momentum and on‑chain strength suggest that holding $123K would increase the probability of a 20–30% rally toward $130K–$133K. What is the technical outlook for BTC as it tests $123K? BTC rebounded from the $121,000 support zone and consolidated around $123,000. Technical indicators show strong buying momentum and a cleared descending trendline from August–September.

Analysts emphasize that a few weekly closes above $123K are needed to confirm the next bullish ￰8￱ recommends • Exchange signup Clear control for futures Sizing, stops, and scenario planning ￰9￱ futures account → $BTC is now trying to flip its previous ATH into support. I wouldn’t be surprised to see a fakeout below it, but overall a few weekly close above $123K is ￰10￱ will set the stage for the next 20%-30% rally in the coming weeks. — BitBull (@AkaBull_) October 7, 2025 The breakout above $123,000 followed months of consolidation and repeated ￰11￱ behavior indicates recovery momentum supported by stronger buying pressure and consistent liquidity inflows across major ￰12￱ are monitoring weekly closes and order‑flow at $120K–$124K ranges for confirmation of continuation.) Market quote: Kamran Asghar: “BTC is a ticking ￰13￱ breakout above $124,500 is the trigger for $130,000.” Recent trading indicates support near $120,800–$121,500 and upward targets around $126,000–$128,000.

What on-chain data supports a potential Bitcoin rally? On‑chain data is currently aligned with bullish price ￰14￱ metrics show 99.4% of circulating BTC in profit, indicating historically high realized gains for ￰15￱ level of profitability typically coincides with elevated market participation and the potential for volatile upside ￰16￱ participation metrics matter most? Key metrics to monitor include active addresses, TVL in DeFi, exchange flows, and 24‑hour trading ￰17￱ TVL, active address counts, and large inflows to exchanges can collectively indicate stronger demand from both retail and institutional segments.). These metrics reflect heightened engagement across the ￰18￱ are the key price levels and analyst targets?

Analysts cite short‑term resistance between $126K and $128K and medium targets of $130K–$133K. A confirmed flip of $123K to support with follow‑through volume would increase the probability of reaching those ￰19￱ levels and targets Level Range / Target Significance Support test $120,800–$121,500 Immediate on‑chain support zone Flip level $123,000 Confirmation needed via weekly closes Near target $126,000–$128,000 First resistance cluster Medium target $130,000–$133,000 Analyst target area Frequently Asked Questions How likely is a 20–30% rally if $123K holds? If Bitcoin holds $123K on multiple weekly closes, probability for a 20–30% rally rises ￰20￱ requires sustained volume and continued on‑chain strength alongside reduced liquidation risk for short ￰21￱ can traders monitor confirmation signals?

Watch for: 1) multiple weekly closes above $123K, 2) rising on‑chain inflows and active addresses, 3) strengthening exchange order ￰22￱ signals together increase confidence in breakout ￰23￱ Takeaways Support flip is pivotal : Holding $123K on weekly closes increases odds of a 20–30% rally. On‑chain strength : 99.4% of BTC supply is in profit, indicating broad holder ￰24￱ volume and liquidity : Rising exchange activity and TVL suggest growing participation; monitor weekly closes and order ￰25￱ Bitcoin price is at a critical juncture as it attempts to flip $123K into support. Front‑loaded on‑chain data and technical structure support a bullish case, but confirmation requires multiple weekly closes above $123K and sustained ￰26￱ should monitor levels, on‑chain metrics, and exchange liquidity for next steps. , "description": "Bitcoin attempts to flip $123K into support as on-chain metrics and exchange activity point to a potential 20–30% rally; traders watch weekly closes for confirmation." , COINOTAG recommends • Exchange signup Smarter ￰27￱ ￰28￱ analytics and risk features in one ￰29￱ up →