📉 Bitcoin retreats to $118,200 after consolidation in the high zone
$BTC has dropped from $119,000–$119,500 to settle at $118,200, while seeking support. The support at $117,000–$117,500 remains crucial to avoid a larger retracement.
🔍 Recent data:
– Institutional flows remain active: $363 M in ETF inflows yesterday (12th consecutive day), raising the total to $6.62 B
– BlackRock IBIT only injected $496.8 M, consolidating its leadership
– According to Reuters, ETFs accumulated $3.4 B in July as institutional interest strengthens
📊 Technically:
- Neutral RSI at 50
- Flat MACD: no decisive crossover
- Low intraday volume: lack of upward conviction
- EMA 50 and 100 close: decision level
⚠️ Support: $117,000–$117,500
🎯 Resistance: $119,000–$119,500 (key)
➡️ Daily close above $119,500 → possible new push towards $120,500–$121,000; loss of support → drop to $116,000
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