Bitcoin To $120,000 Next? Here's What Technical Analysis Says

Prominent cryptocurrency analyst Kevin says Bitcoin's BTC/USD decisive move above $106,800 signals a fresh leg in its bull cycle, with eyes now on the $116,000–$128,000 range as the next key resistance.

What Happened: In his podcast update on May 21, Kevin highlighted that this breakout aligns perfectly with a long-standing technical roadmap he's followed since late 2024.

He had flagged $106,800 as a critical level, noting it was the site of a previous double top that triggered last cycle's major correction.

Back in January, Kevin accurately forecasted a correction window between 114–174 days, which culminated with Bitcoin bottoming out near $74,000 on April 7.

That reversal was confirmed by a key MACD signal on the 3-day chart, which has historically supported the broader bull market.

"We literally bottomed on April 7, started heading higher on April 9," Kevin said. "The MACD hit that exact support channel we've been watching the whole time."

Also Read: Bitcoin Shatters $110,000, XRP, Dogecoin, Ethereum Surge: ‘Bulls Emerge Victorious,’ Trader Concludes

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What's Next: Looking ahead, Kevin sees $116,000–$128,000 as the next battleground for BTC. "There's a cluster of resistance here," he noted, but said the breakout will be confirmed only if Bitcoin closes multiple days above $106,800.

Kevin cautions against jumping blindly into altcoins.

Instead, he advises a methodical Bitcoin-first approach: start with a full BTC analysis. Once you're confident in where Bitcoin is headed, only then zoom into altcoin-BTC pairings to see what's showing relative strength.

Using this strategy, Kevin has spotlighted Dogecoin DOGE/USD as an outperformer, noting it's "holding up better than most altcoins against Bitcoin." In contrast, many others are still printing new lows on BTC pairs.

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