🍋Updated analysis $BTC 📉 As of July 17, 13:30

1. 📉 Sharp pullback from the peak $119,300 → active closing of positions after the morning rise

2. 🔻 The price broke MA(7) from top to bottom — a signal of weakness in the short-term trend

3. 📉 Volume is decreasing, buyers have cooled off

4. ⚠️ RSI is approaching the weak momentum zone → possible continuation of the correction

📌 Key levels:

🟣 Resistance: $118,795–$118,860

🟠 Support: $118,340 → if it does not hold — a possible movement to $117,996 and below

🔮 Forecast for the coming hours:

📉 Negative dynamics prevail. If new buying volume does not appear, BTC may decline to $118,100–$117,900.

📊 Correction — likely. RSI, weak volume, and the breakout of MA(7) — signals of market cooling.

✅ What a trader should do:

Speculators: possible shorts with a stop at $118,900

Hodlers: just watch — this is currently an ordinary local correction

Buyers: better to wait for a pullback to $117,700–$118,000

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⚠️ Conclusion: the market has stopped after a rapid rise and is showing signs of exhaustion. The correction is quite logical.

💡 Keep your finger on the pulse, do not chase the market without confirmation of a reversal.

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