📈 Current situation
The price of Bitcoin is currently trading around $116,226, down approximately ~0.04% from today’s high near $120,779.
A partial sell-off was witnessed after reaching a record number during the 'Crypto Week' in Washington, but it slightly recovered with new inflows entering.
📊 Short-term technical forecasts
Main support: the area of $112,000–$114,000 (close to the 20 and 50-day moving averages).
Near resistance: the range of $122,000–$123,000, which is a new peak recently recorded.
The likely scenario is sideways volatility or a slight correction towards $114,000–$115,000 before another attempt to break the peak.
🎯 What’s next?
In case of a stable breach above $123,000, the price may head towards an increase to $130,000–$135,000 with continued inflows and the formation of an upward trend.
However, if it retreats from the moving averages support, a correction towards $110,000–$112,000 may temporarily occur.
🧭 Summary and tips
Point Content
Overall trend Bullish with occasional drops and medium corrections
Opportunities Enter at support levels, or wait for a breakout of resistance
Risks Weak institutional inflows, or any negative regulatory news
Strategy Risk management: setting stop-loss points and gradual entry based on risk tolerance
If you would like a more precise technical analysis such as Fibonacci levels or RSI/MACD indicators, let me know.
