The correction is officially over. After dipping from the $119,488 high, Bitcoin has carved out a local bottom near $117,224 and is starting to show signs of strength. Early buyers are stepping in.
This is where smart money starts to accumulate before the next big push.
Donโt be fooled by the recent red candles โ the momentum is shifting now. $BTC
---
๐ The Bullish Case (Why Buy BTC Now?)
๐น Support Identified: BTC found solid support around $117,224, which aligns with a previous demand zone. Buyers defended it well, preventing deeper declines.
๐น Downtrend Losing Steam: After a drop from the $119,488 peak, sellers are clearly running out of fuel. Volume has tapered, and bullish candles are now forming.
๐น MACD Momentum Shift: The MACD is showing signs of flattening, and histogram bars are reducing in size โ a classic early sign of a reversal.
๐น RSI Recovery: RSI is climbing back from neutral territory (~48.5), signaling buyers are starting to regain control.
๐น High Risk/Reward Setup: Entering here provides a tight stop-loss setup below the recent low, with room for upside back toward $119K+ and beyond. $BTC
---
๐ The Trade Setup
This is your textbook โbuy-the-dipโ reversal zone.
โ BUY Zone: Between $118,200 โ $118,700
๐ฏ TP1: $119,134 (Minor resistance from recent rejection)
๐ฏ TP2: $119,488 (Local high and key resistance)
๐ SL: $117,200 (Below the swing low)
---
๐ฅ Bottom Line
The correction was healthy, the support has held, and Bitcoin is ready to launch its next leg upward.
This could be your last chance to catch BTC below $119K before it makes a push toward a new local high.
๐ Do you believe Bitcoin will reclaim $120K this week? Letโs talk below! ๐
โค๏ธ Like if youโre bullish on this BTC setup, and follow for more early entries before they explode!
