Currently, $120,000 is the key resistance level for Bitcoin, and analysts believe that breaking through this level may create a new historical high; the key areas of focus include 14. According to BlockBeats news on July 30, as reported by Cointelegraph, $120,000 is the key resistance level for traders regarding Bitcoin. Multiple analysts believe that if there is a large buying push that drives the price above this level, it will open the door for Bitcoin to quickly set a new historical high. Glassnode stated in its latest report: "Once a breakout of this area is confirmed, the market structure may change, with the $141,000 area becoming the focal point, which corresponds exactly to the position two standard deviations above the short-term holders (STH) realization price, a key on-chain indicator that shows profit-taking behavior may significantly intensify in this area. Another key level to watch is $125,000, representing a position one standard deviation above the short-term holders (STH) cost basis. "On the downside, traders should pay attention to the STH cost basis for Bitcoin at around $105,400, as well as the year-to-date opening price of around $93,000, as these two positions roughly correspond to one standard deviation below the STH cost basis. Meanwhile, analyst Killa noted that the $114,000 to $116,000 range is a key area of focus. The price of Bitcoin may briefly fall below this range and stabilize with a rebound after filling the reasonable gap value of $112,000.