Bitcoin Price Analysis: One Last Hurdle Remains Before BTC Hits New ATH

Bitcoin has shifted out of its “trapped between MAs and resistance” phase into a confirmed breakout, with liquidity sweeps and structural shifts tilting the bias strongly ￰0￱ short-term pullbacks remain possible, the market structure now favours continuation toward $120K–$124K, where the next significant supply block and sell-side liquidity cluster ￰1￱ Analysis By Shayan The Daily Chart On the daily timeframe, BTC has reclaimed the 100-day MA ($114K) and surged through the midpoint of its consolidation range, pressing into the $118K zone just beneath the broader $120K–$124K supply ￰2￱ area coincides with a major order block from prior distribution, making it a critical ￰3￱ surge confirms a bullish breakout from the recent major swing high, weakening the broader corrective ￰4￱ the daily candles show some rejection around $118K, the medium-term structure remains ￰5￱ long as BTC holds above the $112K–$114K zone — now turned into support — the path of least resistance points higher toward $120K–$124K.

The 4-Hour Chart The 4-hour structure illustrates the breakout most ￰6￱ consolidating above $114K, Bitcoin broke through descending resistance, sweeping buy-side liquidity above $116K and pressing into the $118K liquidity ￰7￱ a pullback unfolds, the $114K–$115K demand block is the key decision ￰8￱ bids here would provide the fuel for another push into the $120K–$124K supply ￰9￱ to defend it, however, could drag the price back toward $110K, though this currently appears less likely, given the momentum. On-chain Analysis By Shayan The liquidation heatmap further validates the technical picture by highlighting the dense liquidity clusters currently in ￰10￱ Bitcoin rallied from the $109K demand base into the current range, a significant portion of short positions was forced out of the market, which fueled the impulsive move ￰11￱ heatmap now shows that a particularly heavy concentration of liquidity has formed just above the $118K–$120K region, which is exactly where the price is currently facing ￰12￱ cluster reflects a build-up of short positions at that level, and if Bitcoin sustains momentum above $118K, the probability of that liquidity being swept grows ￰13￱ forced liquidations triggered by such a move could act as a catalyst for an extended rally, pushing the asset deeper into the $120K–$124K supply ￰14￱ this immediate resistance, the heatmap also highlights much larger liquidity concentrations sitting above the $124K swing highs, extending into the $130K–$135K ￰15￱ pools act as magnets for price in the medium term, suggesting that if the $120K barrier is cleared convincingly, the market may accelerate toward these higher ranges in search of ￰16￱ the downside, liquidity below current levels is far less concentrated compared to what sits ￰17￱ relative imbalance indicates that the path of least resistance remains tilted upward, provided that the $114K–$115K reclaimed support continues to ￰18￱ recent rally has already flushed sellers from the $109K base and cleared a large portion of downside liquidity, leaving the market positioned to build on its ￰19￱ summary, the heatmap confirms what the structural analysis already suggests: Bitcoin has entered into a new bullish phase, with shorts squeezed from lower levels and liquidity now stacked higher, making the $120K–$124K region the next key battleground.

A decisive clearance of this zone could then set the stage for a move into the $124K–$130K liquidity band.