Cryptocurrency markets are trading sideways on Tuesdayas Bitcoin attempts to reclaim the $120,000 mark.

Notable Statistics:

Notable Developments:

Trader Notes: Crypto trader CJ outlined two potential bullish scenarios:

Scenario 1: Price dips into a 4-hour demand zone (visible on Coinbase but not all exchanges), triggers a sweep of recent highs, possibly signaling either a clue or a price anomaly.

Scenario 2: Current range is viewed as accumulation. A manipulation move below the range low into the daily fair value gap (FVG) could precede a strong rally. This would lead to distribution above current highs, potentially pushing Bitcoin to new all-time highs and extending towards ~$128,000.

Bitcoin Munger believes $150,000 is the next pit stop for Bitcoin on its way to $400,000.

Crypto Chase sees Bitcoin’s price action is progressing well.

The $118,400 S/R flip setup occurred when the traders missed it.

Now the key is continuation: if this is indeed the leg, bulls want to see momentum build from here rather than more retests around $118,000. The trader is watching for sustained strength from this point onward.

Read Next: 

• ‘I’d Rather Have An iPhone Than A Landline’, Says Ether Machine CEO About Why He Doesn’t Own Bitcoin

Image: Shutterstock