Bitcoin price is once again flirting with the $120,000 mark, and market analysts are split between two key scenarios: a breakout toward new all-time highs or a short-term correction driven by liquidity imbalances. As trading volumes spike and ETF flows remain volatile, traders are dissecting technical levels and CME gaps to forecast what’s next.
In this article, we explore the most credible Bitcoin price targets based on technical data, analyst predictions, and liquidation heatmaps. From $113K traps to $130K ambitions, this is what the charts are saying now.
Bitcoin Price Hovers Near $120K, but Market Shows Signs of Compression
At the time of writing, Bitcoin price is trading around $118,913, showing signs of consolidation after its strong move from $106K earlier this month. Although the recent daily candles show reduced volatility, analysts like @CrypNuevo have noted a range-bound structure forming between $113.6K and $121K, highlighted by visible liquidation clusters on both sides.
Source: Tradingview
“We’re in-between two major liquidation zones: $114.5k–$113.6k and $120k–$121k. It’s a logical range and both sides could get tested” notes CrypNuevo in a recent post on X.
Source: Coinglass
This view is supported by Coinglass’s Bitcoin Exchange Liquidation Map, which shows a strong build-up of long liquidation leverage below $115K and a short-heavy cluster just above $120K. The current neutral position suggests a liquidity-driven move is imminent.
The CME Gap at $114.3K: Will It Get Filled?
Another critical factor in short-term price action is the unfilled CME gap around $114.3K. Historically, Bitcoin has shown a tendency to revisit these levels—especially during periods of low volume or price exhaustion.
“CME gap didn’t hit by just a few hundreds — they’ll probably try again” wrote CrypNuevo, highlighting how BTC almost tagged that zone before rebounding.
Source: Tradingview
If Bitcoin fails to break above $120K with conviction, traders may begin targeting the downside CME gap, especially since it aligns with the lower liquidation cluster mentioned earlier.
Bulls Still in Control, But $130K Could Be the Next Target
Despite the pullback risk, other analysts are calling for a bullish extension toward $128K–$130K, citing momentum and the historical behavior of BTC during previous breakout cycles. According to a recent article by Cointelegraph, the long-term fractal projection suggests we could be on the verge of another parabolic move.
Additional support for this scenario came from the latest geopolitical update: the US and China have extended their tariff pause, which could ease global macro pressures and support risk-on sentiment. Historically, such decisions have correlated with strong inflows into crypto assets.
Final Thoughts: What This Means for Bitcoin Price Targets
As Bitcoin price tightens between two key zones, the short-term outlook depends on how traders react to the $120K ceiling and $114K floor. If bulls reclaim $121K with momentum, the next leg could push toward $128K–$130K. On the other hand, failure to hold the current range could lead to a CME gap fill at $114.3K, or even lower into the liquidation pocket around $113.6K.
Either way, Bitcoin price targets are expanding, and both upside and downside scenarios remain in play. With institutional accumulation, strong macro news, and visible technical clusters, the next major move could be dramatic—and fast.
