btc hits $122k and analysts are looking at $125k...where's the next resistance?

bitcoin just touched $122,230 today after being stuck around $112k last week. that's a 65% gain from the april lows if anyone's keeping track. now citi analysts are talking $125k targets, but the real question is what happens after we break current resistance levels.

right now btc is testing the $123,200 all-time high as immediate resistance. this level held back previous attempts and there's likely selling pressure from people who bought the previous peak.

if we clear $123,200 convincingly, the next psychological resistance hits at $125,000. round numbers always create resistance as traders take profits and institutions rebalance portfolios.

but here's where it gets interesting, after $125k, the next major resistance zone doesn't appear until around $135k-$140k. that's roughly where fibonacci extensions and previous cycle patterns suggest institutional selling might emerge.

$135k-$140k range: this aligns with fibonacci extension levels from previous cycles. also where some models predict institutional profit-taking could emerge as bitcoin reaches roughly 15% of gold's market cap.

$150k psychological barrier: another round number that creates natural resistance. at this level, bitcoin's market cap would approach $3 trillion, putting it closer to microsoft or apple territory.

$160k-$175k zone: based on logarithmic trend channels, this range represents where previous bull market extensions have typically peaked before major corrections.

but breaking each resistance level will require sustained buying pressure. the question isn't just whether we reach $125k, but whether momentum can carry through the resistance zones that follow.