Technical Analysis $BTC

📊 General Trend: Bearish correction within a larger bullish context

BTC broke its short-term bullish structure after reaching $123,300. It is currently trading at $119,970, below the EMA7 ($120,131) and the EMA25 ($120,268), indicating weakness in the short term. The price has attempted to stabilize after hitting $118,200, but has not yet confirmed solid recovery.

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📈 Key technical zones:

• Nearby support: $118,400 – $118,700 (zone where it recently bounced + previous consolidation)

• Suggested entry zone (weak pullback or bounce): $119,300 – $119,700 (if it forms a base on previous support and recovers EMAs)

• Relevant resistance: $121,800 – $122,500 (recent highs and profit-taking zone)

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📉 Indicators:

• RSI (6): 38.9 → Low zone, suggesting possible technical bounce, although without confirmation yet.

• MACD: In strong negative cross, but the histogram begins to flatten → could anticipate loss of bearish strength.

• Volume: Decreasing in the retracement phase, which is typical in corrections, but there is still no strong buyer entry.