Analysts believe a Bitcoin rally to $127,000 is possible if the cryptocurrency closes above $120,000 on strong volume, but they warn of a potential retest of the $114,000 to $116,000 range if the rally is rejected.

BTC Enters 'Wait for Confirmation' Phase
Bitcoin (BTC) broke through $122,000 late on August 10, marking the first test of that level since July 14. The leading cryptocurrency's rally, which has revived hopes for another milestone-setting rally, comes just days after it briefly dipped below $113,000 for the second time in August. #BTC Market Cap Tops Amazon# #Crypto Market Cap Hits ATH# #BTC Back To $120k# #Stablecoin Supply Tops $270B# #Content Mining & Earn Rich Commission#