#bitcoin 's bullish momentum appears to have cooled off, at least for now. After rallying strongly, the price has failed to hold above the critical $118,000 support zone, a level we previously highlighted as vulnerable to a correction. The current retracement confirms that the market was due for a breather, and we're now watching closely for a potential retest of the $118,000–$118,500 zone.
This region could act as a short-term resistance. If #BTC faces rejection here, we may see a further slide toward the $115,000 level, which now stands as a key support area. On the other hand, a successful reclaim of $118,500 could reignite bullish sentiment and bring fresh momentum.
Overall, the market is at a crossroads. Traders should stay cautious and watch how price reacts around this zone, as the next move could determine the short-term trend direction.
