#BTC120kVs125kToday

BTC 1D

The price experienced rejection from the highest level of 123,265 and is currently consolidating around 119,700. Two areas of fair value gap (fvg) are visible on the chart, with the first fvg located in the area of 118,897–118,219 and the second fvg deeper in the area of 115,189–112,139. Both zones have the potential to become correction targets if the decline continues. The stochastic indicator shows a bearish divergence signal and is beginning to trend down from the overbought area (crossing down from 83.84), indicating weakening buying momentum.

On the order book side, selling volume is starting to dominate (-4.69K delta), the long/short ratio has drastically decreased (from 2.0 to 0.63), and profit-taking pressure is starting to be seen on the heatmap along with seller liquidity above 123,000.

Scenario

If the price falls and reaches the fvg area of 118,897–118,219, a buying reaction is likely to occur. If it fails to hold, the second fvg at 115,189–112,139 becomes a stronger demand area.