Bitcoin News Today: Bitcoin Faces Key Resistance at $124,000 and $136,000

Bitcoin's recent price movements have highlighted key resistance levels at $124,000 and $136,000, as indicated by on-chain data. The $124,000 level corresponds to the +1 standard deviation (STD) of the short-term holder (STH) realized price, which triggered a 4.5% pullback after a brief rally due to investor profit-taking. This level is historically associated with overextended conditions and short-term profit-taking.

Similarly, the $136,000 level represents the +1 STD for holders with less than one month of exposure. These aggressive buyers often drive prices into overheated territory, forming temporary peaks during sharp rallies. This level signals excessive sell-side pressure from entrenched positions, marking overbought conditions.

On the support side, the $113,000 area, corresponding to the +0.5 STD above the STH realized price, functions as a dynamic support level during consolidation phases. Buyers frequently return to this zone, stabilizing short-term pullbacks. Additionally, the $111,000 level identifies the average entry price of the most recent monthly buyers, creating a psychological barrier where selling pressure reduces, helping to form a base.

Crucially, the $101,000 level stands as the STH realized price itself. This zone constitutes the concept of a Bitcoin bullish pattern in the medium term. Maintaining price strength beyond this range indicates that short-term holders are confident and ready to build. This level reinforces medium-term strong bullish conviction.

Market observers are now closely tracking these key levels. The realized price metric, enriched with standard deviation overlays, allows a granular look at how investor groups respond to price changes. The short-term resistance levels are open at $124,000 and $136,000, whereas the support bands between $101,000 and $113,000 are essential to sustain the bullish trend. As Bitcoin recalibrates, traders are sitting on these levels, monitoring for potential price reactions.