What does Bitcoin clearing the resistance really mean in crypto?

[Fidelia]

There is a crypto analyst that I follow. And he posted something like bitcoin having to clear the resistance at $120k before altcoins begin to pump. What does it mean for bitcoin to clear the resistance? Is it about market forces?

 

[Suba]

Resistance means that the price of Bitcoin is held back from rising again, in terms of clear resistance/breakout occurs because of increasing BTC purchases, so that the price of Bitcoin can exceed resistance, but traders must also be aware of whether this breakout is fake or not.

 

[kit_hung]

In cryptocurrency trading to say that Bitcoin should “break resistance” means that its price should rise and break above a certain level that is usually difficult to break, such as $120,000. This resistance level is like a psychological wall where many sellers start selling, thus preventing the price from continuing to rise. If Bitcoin breaks through this level strongly and continues to rise, it indicates that the market is confident and can stimulate an increase in the value of other minor coins (altcoins). This situation is driven by market forces such as demand, supply, and investor behavior.

 

[wisdom01]

Resistance means that the price of Bitcoin is held back from rising again, in terms of clear resistance/breakout occurs because of increasing BTC purchases, so that the price of Bitcoin can exceed resistance, but traders must also be aware of whether this breakout is fake or not.

Resistance level, the make-or-break moment! Breakout's exciting, but fakeouts are real – traders stay sharp!