Bitcoin is trading near $121,600 after reaching a new all-time high above $126,000 earlier this 0 asset has slowed and is now moving sideways just below a major diagonal resistance that has capped the price for several 1 are watching to see whether Bitcoin can break through or if it will be rejected once again. Meanwhile, the market is holding near a key level while open interest remains high in the futures 2 Struggles Near Long-Term Resistance Bitcoin is facing resistance at a trendline that has held firm since earlier cycle 3 latest weekly candle shows another rejection near $126,000, followed by a pullback of around 5.5%. Earlier this year, similar rejections led to drops of nearly 10% and close to 30%.
The difference this time is the size of the 4 rejection has been smaller than the 5 Capital pointed out that “this trendline looks to be a weakening point of rejection,” suggesting sellers may be losing strength at this level.) October 10, 2025 The asset is currently consolidating in a tight 6 has slowed, which often happens before a larger 7 trend remains bullish overall. A confirmed higher low would support another leg higher, especially if resistance 8 Scenario Still in Play While short-term sentiment remains positive, some market participants are still 9 Ali Martinez shared a scenario where Bitcoin gets rejected at $124,000 and begins a correction toward $96,000.
If that level fails, the next major support is around $70,000.
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