🔔🔔🔔BTC/USD news:
➡️ Bitcoin appears to be undergoing a short-term technical correction, suggesting a possible drop from above $120,000 to around $118,000.
➡️ BTC has been in a consolidation phase, trading between $116,000 and $120,000 after hitting an all-time high last week. Meanwhile, US-listed Bitcoin ETFs saw outflows of $131.35 million, ending a streak of daily inflows since July 2.
➡️ In my view, Bitcoin has consolidated its bullish momentum and is showing signs of breaking out of its recent range. After a successful retest, BTC is likely to resume its uptrend and could head towards $122,000.
➡️ Analysis based on support resistance levels and trend lines combined with SMA to come up with a suitable strategy
Support zone 117,300 - 116,600
Resistance zone: 120,400 - 122,000
FM wishes you a successful trading day 💰💰💰
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