📈 Price Snapshot
Bitcoin is currently trading at $118,405, with intraday support near $117,805 and resistance around $120,012.
📐 Key Technical Levels
Support Zones:
Primary: $117,800–$118,000 (today's low)
Secondary: $115,000–$115,400
Resistance Levels:
Short term: $120,000–$120,500 (round number & Bollinger mid‑band)
Extended: $122,500–$123,200130
⚙️ Indicator Overview
RSI (4H): ~51 — neutral; cooling from overbought; room to move either way
MACD (4H): Bearish crossover—short‑term momentum weakening
Bollinger Bands (4H): Price near lower band → volatility squeeze could precede a move
Volume & Miners: Miner profit‑taking noted; but long‑term holders still accumulating
🔄 Market Context
A pullback from recent highs near $123K appears due to miner sell‑offs and risk‑off rotation
Long‑term accumulation continues, with steady support below current levels
Options open interest is concentrated at the $117K–$118K strikes ahead of expiry — indicating potential pin zones
⏱ 4‑Hour Forecast
🟢 Bullish Scenario:
Entry Trigger: Hold above $118,000 + bullish candle + rising volume
Targets: $120,000 → $122,500
Stop-Loss: Below $117,700
🔻 Bearish Scenario:
Sell Signal: Breakdown below $117,800 with volume → next supports at $115,400 → $114,000
Bias: Slightly bearish short‑term (RSI & MACD), but a strong bounce from $118K could shift outlook bullish quickly.
🧭 Trade Plan at a Glance
Dip Buyers: Consider entries in the $118–$119K zone with confirmation.
Breakout Traders: Await break above $120K or drop below $117.8K before acting.
HODLers/Accumulation: Current range may offer a decent opportunity for scaled adding on dips.
🛑 Disclaimer: This content is for educational purposes only — it’s not financial advice. Always do your own research and use proper risk controls.
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