Bitcoin To $120,000 Next? Here's What Technical Analysis Says

Prominent cryptocurrency analyst Kevin says Bitcoin's BTC/USD decisive move above $106,800 signals a fresh leg in its bull cycle, with eyes now on the $116,000–$128,000 range as the next key resistance.

What Happened: In his podcast update on May 21, Kevin highlighted that this breakout aligns perfectly with a long-standing technical roadmap he's followed since late 2024.

He had flagged $106,800 as a critical level, noting it was the site of a previous double top that triggered last cycle's major correction.

Don't Miss:

Trade crypto futures on Plus500 with up to $200 in bonuses — no wallets, just price speculation and free paper trading to practice different strategies.
Grow your IRA or 401(k) with Crypto – unlock the power of alternative investments including a Crypto IRA within your retirement account.

Back in January, Kevin accurately forecasted a correction window between 114–174 days, which culminated with Bitcoin bottoming out near $74,000 on April 7.

That reversal was confirmed by a key MACD signal on the 3-day chart, which has historically supported the broader bull market.

Pre-IPO Offer: Get A Piece Of A Nearly $5T Global Opportunity By Joining BOXABL As An Early Shareholder At Just $0.80/Share

Massive Demand & Disruptive Potential – Boxabl has received interest for over 190,000 homes, positioning itself as a major disruptor in the housing market.
Revolutionary Manufacturing Approach – Inspired by Henry Ford’s assembly line, Boxabl’s foldable tiny homes are designed for high-efficiency production, making homeownership more accessible.
Affordable Investment Opportunity – With homes priced at $60,000, Boxabl is raising $1 billion to scale production, offering investors a chance to own a stake in its growth.

Share Price: $0.80

Min. Investment: $1,000

Valuation: $3.5B

"We literally bottomed on April 7, started heading higher on April 9," Kevin said. "The MACD hit that exact support channel we've been watching the whole time."

What's Next: Looking ahead, Kevin sees $116,000–$128,000 as the next battleground for BTC. "There's a cluster of resistance here," he noted, but said the breakout will be confirmed only if Bitcoin closes multiple days above $106,800.

Kevin cautions against jumping blindly into altcoins.

Instead, he advises a methodical Bitcoin-first approach: start with a full BTC analysis. Once you're confident in where Bitcoin is headed, only then zoom into altcoin-BTC pairings to see what's showing relative strength.

Using this strategy, Kevin has spotlighted Dogecoin DOGE/USD as an outperformer, noting it's "holding up better than most altcoins against Bitcoin." In contrast, many others are still printing new lows on BTC pairs.

Read Next: