According to Michaël van de Poppe, Bitcoin (BTC) is demonstrating upward momentum, moving towards the top of its current trading range. The analyst is closely watching for a potential breakout above the $120,000 level. This potential move could involve taking liquidity above the all-time high (ATH), suggesting a push beyond previous peaks. Van de Poppe also notes that the U.S. market opening is a critical time for observing significant price movements.

According to Cas Abbé, Bitcoin is in a Wyckoff Distribution phase with a target peak around $120K before April 2025. This phase is expected to be a local top, similar to March 2024, followed by a choppy market for 4-6 months before a potential blow-off top in Q4 2025.