$BTC Approaching Key Decision Zone – Momentum or Pullback?
Bitcoin is trading at $118,586 after a strong rally from the $74,500 zone seen in April. The uptrend remains intact as BTC trades well above all key EMAs (7, 25, and 99), suggesting buyers are still in control.
Key Observations:
BTC has gained over 39% in the last 90 days
It recently rejected near $123,218 and is consolidating below $120,000
The 7EMA is providing dynamic support at $117,498
Trade Setup:
Entry: $118,300 – $118,600 (on confirmation of bounce)
Support: $117,000
Resistance: $120,000 → $123,200
TP1: $120,000
TP2: $123,200
TP3: $125,600
Stop-loss: $116,000
Despite today’s slight dip (-0.41%), BTC still shows strong momentum on the higher timeframes. A successful reclaim of $120K may open doors for another leg up, targeting the $125K–$130K region.
What do you think — will BTC continue its climb, or is there a short-term correction on the horizon?