Has the main Bitcoin level changed? What is the next step?

Bitcoin is currently trading near a critical resistance area at 118,000, with slight price variations between different exchanges. Recent Bitcoin price movements appear to be closely linked to the S&P 500 index, reflecting overall market sentiment.

If the one-hour candle closes above 118,000, it indicates strong bullish momentum. In this case, the next potential target area would be 123,100.

However, if the one-hour candle closes below 117,500, selling pressure may increase. This could lead to a Bitcoin pullback towards the support level of 114,500.

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