🚀 Bitcoin struggles to consolidate above $118K: is the path clear to $121K?
📉 $BTC trades at $118,200, after staying in a narrow range overnight. Despite the pullback from $119,400, it maintains a bullish structure on the daily timeframe and strong institutional interest.
🧩 Key factors: – ETFs in the U.S. total +$363M in net inflows this Monday
– BlackRock adds +$496M to its BTC ETF, marking its largest purchase in over a month
– The DXY dollar retreats after mixed employment data, favoring risk assets
– There are observed movements of BTC withdrawals from exchanges to cold wallets (+$240M in 24h)
📊 Technical level of the day: • Strong support: $117,300–$117,800
• Intraday resistance: $119,200–$119,600 → breaking this level projects a technical target towards $121K–$123K
💡 Outlook: Bitcoin remains in a healthy consolidation phase after its July rally. If inflows to ETFs are maintained, we could soon see a new attempt at a technical breakout.
👇 Do we confirm smart accumulation in this zone before reaching $121K?
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