โ ๏ธ
$BTC #Rejected From $123K โ Is This Just a Dip or a Trend Shift?
๐ธ Current Price: 116,417.01
๐ 24h Change: -4.52%
๐ 24h High: 122,120.00 | ๐ 24h Low: 116,250.00
๐ 24h Volume: 27.66K (BTC), 3.28B (USDT)
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๐ Technical Analysis (Chart Insight)
๐ Sharp Rejection: Bitcoin hit a peak of $123,218 but was immediately rejected โ a strong red candle has formed, signaling short-term sell pressure.
๐ Key Support: AVL sits at $117,487. If price can reclaim this, bulls may take charge again.
๐ Structure Note: This could be a healthy pullback within a larger uptrend โ price is still well above 90-day trend levels (+38.30%).
๐ Watch Levels: Below $116,000, price could slide toward $112,000โ$108,000 zones.
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๐ฐ Whatโs Driving This BTC Move?
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Profit-Taking Post-Rally: After rising from $105K to $123K, many traders are locking profits โ normal in volatile markets.
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Macro Uncertainty: Some investors expect interest rate news this week from the U.S. Fed, which could temporarily affect crypto demand.
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High ETF Volume: Despite the drop, BTC ETFs are still showing high inflows โ long-term interest remains strong.
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Order Book Support: Buy pressure still outweighs sell (67% green) โ indicating whales are likely buying the dip.
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๐ฎ What Could Happen Next? (Not Financial Advice)
๐ If BTC holds above $116Kโ$117K, it may reclaim momentum toward $120K+ again.
๐ But if it loses that zone, a dip toward $112K or even $108K is possible before next bounce.
๐ Market reaction to U.S. news + ETF flows will decide the short-term direction.
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โ ๏ธ Final Thoughts:
BTC is cooling off after a massive surge โ but no breakdown yet.
Dips like these are common in strong uptrends. If volume stays solid, this might just be a setup for the next push.
Short-term traders should watch for reclaim of AVL ($117K+) to confirm recovery signs.
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