Despite reaching an all-time high of $122,800, Bitcoin's recent bearish trend raises questions about its short-term momentum and potential resistance levels.
Bitcoin's price recently peaked at around $122,800 but has since faced bearish pressure, currently trading at approximately $117,610. The decline follows the movement of a Satoshi-era whale and highlights the $123,370 Alpha Price level as a critical resistance. On-chain expert Joao Wedson suggests that Bitcoin may need to pull back before attempting to breach this resistance, though a move toward $143,000 remains possible if it breaks above the Alpha Price level.