Bitcoin at a Crossroads: Will Prices Rise Past $123,000 or Fall Back Towards $94,000?

The price of Bitcoin is currently hovering near a key technical level, creating a crucial decision point for the cryptocurrency’s future trajectory. Analysts are divided on whether this current market structure indicates a broader correction phase or the initial stage of a powerful new rally. Despite recent rebounding from $111,000, it encountered resistance in the zone between $117,000 and $119,000 – a zone many believe marks a significant test point. This upcoming decision could determine whether Bitcoin completes its ongoing correction or embarks on a more sustained upward trend.