Bitcoin Consolidation Near $111K: Could a Break Unlock $120K Potential?

Bitcoin’s price is currently consolidating in a narrow range, hovering near $108,436. This tight band presents a crucial point of tension as traders await a decisive move. A breakout above the resistance level at $111,814 could propel Bitcoin towards its next target – $120,000 if strong trading volume supports this surge. While a break above $111,814 marks a potential shift in market sentiment, other factors such as macroeconomic trends and regulatory developments may also influence Bitcoin’s trajectory.