- Bitcoin has followed a repeating cycle since 2022, breaking resistance, retesting support, and rallying to higher levels with consistent momentum.
- CrypFlow identified five successful cycles of resistance breakouts and support retests, reinforcing the idea that Bitcoin’s structure remains firmly intact.
- Fidelity’s spot Bitcoin ETF purchased 2,500 BTC worth nearly $298.7 million, signaling strong institutional demand as price tests $120K resistance.
Bitcoin is once again pressing against the $120,000 resistance level, following a structure that has repeated since the 2022 cycle bottom.
The Classic Pattern Since the Cycle Bottom
Since reaching lows near $16,000 in 2022, Bitcoin has shown a repeated pattern that traders have closely tracked. Each stage has featured a rally beyond resistance, a retest that confirmed new support, and a launch to the next price level.
CrypFlow described this as the “same playbook,” noting that Bitcoin has completed this structure multiple times. Each breakout was followed by a step higher, forming what appears to be a stair-step climb through the cycle.
The current price action fits the same sequence. After defending support just below $120,000, Bitcoin is once again testing the resistance zone. The consistency of this cycle suggests traders are responding to the same technical signals that have guided the market for nearly three years.
Institutional Buying Adds Fuel at Resistance
At the same time, institutional participation is strengthening. Fidelity’s spot Bitcoin ETF, FBTC, purchased 2,500 BTC through Coinbase Prime, an acquisition valued at about $298.7 million.
That Martini Guy ₿ @MartiniGuyYT reported the purchase, emphasizing its timing as Bitcoin approaches the $120,000 wall. The entry reflects increasing confidence from traditional finance players as the cryptocurrency consolidates near its highest levels.
Institutional flows such as this reinforce the ongoing cycle. Each resistance test has been paired with growing interest from large buyers, suggesting that long-term holders view current levels as sustainable entry points. Fidelity’s move adds momentum to an already well-defined technical setup.
Setting Up for the Next Phase
The $120,000 threshold is now the focus of traders and investors. Historical behavior indicates that a decisive break above resistance often accelerates upward movement. Each previous breakout in this cycle led to stronger rallies with higher support levels established afterward.
CrypFlow’s analysis of the chart underscores the narrative: the same structure is playing out at a higher range. Market participants interpret this as evidence that Bitcoin may be entering the later phase of the cycle.
If the structure holds, a breakout beyond $120,000 could mark the beginning of Bitcoin’s final leg in this run. With institutional demand and consistent support retests, the technical case for continuation remains aligned with the established playbook.
