🔍 #BTC Current Price: ~$118,430 (range today: $116,600–$120,247)
Bitcoin continues consolidating below the critical $120,000 resistance, building momentum for the next major move.
🧭 Technical Structure & Indicators
Price Pattern: A bullish flag/pennant on the 4H chart—a classic consolidation pattern post-rally.
RSI (4H): ~60 — sits just below overbought, leaving room for higher gains.
MACD (4H): Slightly bullish, though histogram hints at flattening → monitor for signs of reversal.
Bollinger Bands (1D): Price consolidating above middle band (~$115,400) — healthy digestion phase before next leg up.
Volume: Declining within pennant, typical for accumulation ahead of a breakout.
⏱️ Signal Plan (Next 4–12 Hours)
🟢 Bullish Breakout Setup
Trigger: Break and close above $120,250–$120,300 with increased volume.
Targets:
1. $122,500 (near term)
2. $125,000 (extension of pennant)
Stop-loss: $118,000
🔻 Bearish Breakdown Setup
Trigger: Drop below $116,600 on volume.
Targets: $115,000 → $113,500
Stop-loss: $119,000
🧠 Bias: Slightly bullish — the flag setup, RSI buffer, and Bollinger context all favor upside continuation. But confirmation via volume is crucial.
✅ Strategy Summary
Day traders / scalpers: Watch for a breakout above $120.3K—enter on confirmation with volume.
Swing traders: Consider entries near $118K–$119K with tight stop-losses, or wait for breakout trigger.
Long-term holders: Current range offers a good accumulation opportunity before a potential rally.
🛑 Disclaimer: This is for educational purposes only — not financial advice. Use stop-losses and always DYOR.
💬 What’s your move? Are you preparing for the breakout above $120K or wary of a pullback? Drop your strategy below 👇
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