Healthy correction or start of a downtrend? Analysis of BTC at $110K #TradersLeague
BTC has been consolidating for 3 days in the $109K-$112K range. I observe:
- Volume decreasing by 25% compared to last week
- Key support at $107K (EMA 50 on 4h)
- Immediate resistance at $113.5K
My reading:
It seems like a normal correction after the rally. If it breaks below $107K, we could see $104K. If it breaks $113.5K, the next stop is $116K.
What do you think? Is it time to accumulate, wait, or take profits?
