📉 Healthy Correction or Beginning of a Bear Market?
After breaking through ATH at $122,000 a few days ago, $BTC corrected to the area of $117,800. Many traders are starting to ask:
➡️ Is this just a healthy breath before going up again?
➡️ Or is it the beginning of a deeper downward trend?
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📊 Brief Technical Analysis:
• Strong support: $114,000 – $116,000
• Nearest resistance: $120,000
• RSI (Daily): Starting to decline from the overbought zone
• Volume: Starting to weaken as prices rise → potential correction signal
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🔍 Fundamental Analysis:
• 🏦 The Fed will speak on July 22 — could be a bullish catalyst if rate cut signals are confirmed.
• 💼 The entry of large institutions (spot ETF, MicroStrategy) remains a strong foundation behind the upward trend.
• 🌍 Geopolitics & global uncertainty → keeps BTC attractive as a safe haven alternative.
