Bitcoin Hits Resistance at $120K, Rising Wedge Offers Key Insight

Bitcoin continues to trade within a rising wedge pattern after another rejection at the $120,000 resistance level. The ongoing support zone lies between $117,650 and $115,650, providing crucial stability for the current structure. While analysts believe the next price target could reach $130,000-$137,000 depending on how the market reacts to the CPI data release and subsequent interest rate decisions by the Fed.