Bitcoin Faces Rejection at $120K: Rising Wedge Hints Market Shift

Bitcoin’s price has experienced resistance at the $120,000 level after briefly surpassing $122,000, nearing its all-time high of $123,091. This surge follows a three-day rally across the crypto market, but the price is now consolidating above $118,000 amidst a modest market correction. Analysts note that Bitcoin’s recent rejection at this key resistance point signals a potential market shift towards bearish sentiment.