“¡$BTC is held above $116K – laying the groundwork for flight!”
📊 Current price: $116,892
Bitcoin pauses after reaching a peak of $119,524. Support at $116,500 remains a solid anchor for institutional buyers.
🧩 Key factors:
– Intraday support at $116,500–$117,000, defended by accumulators and ETFs.
– The 4H RSI shows a slight drop towards neutral territory (~45), while the MACD confirms a lagging bullish signal still positive.
– Constant inflows from ETFs and accumulation by official entities (Strategic Bitcoin Reserve) support the structure.
📌 Key levels:
Strong support: $116,500
Immediate resistance: $119,500
Potential target: $122,800–$123,000 if it breaks with volume
Suggested stop-loss: $115,500
💡 Outlook:
BTC consolidates within a broad ascending channel. If it manages to recover $119,500 with volume, we could see a new technical push towards $123K–$125K.
If it loses $116,500, we might retest $115K with greater selling pressure.
👇 Would you enter now or wait for it to retest support before the next impulse?
