The latest technical signals indicate that the rally might be losing momentum in the short term.
According to on-chain analyst Ali Martinez, the TD Sequential indicator has triggered a sell signal on Bitcoin’s 12-hour chart – a setup that has historically preceded short-term pullbacks.
The indicator’s “9” count often appears when markets enter overbought territory, hinting that some investors may start trimming their positions after an extended upswing.
Bitcoin’s recent surge has left $120,000 as the nearest major support level. Analysts see this price area as a critical battleground: a successful defense could stabilize the trend, but a decisive drop below it might open the door to a deeper correction.
While the broader sentiment around Bitcoin remains bullish, short-term volatility is expected to rise as the market digests its latest rally. Many traders are now watching whether the leading cryptocurrency can hold above $120,000 – or if this level will mark the start of a temporary cooldown.
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