🔶 $BTC /USDT Update 🪙

On the 4H chart, BTC is currently trading within a descending triangle pattern. The 116,000 level acts as a strong support zone, while the 119,000–120,000 range marks a key trendline resistance.

At the moment, price is hovering around 118,700 and attempting a breakout. Trading above the EMA is signaling short-term bullish momentum. Notably, whales have been accumulating in the 115K–117K range, further strengthening the support. However, some sell orders near 120K could act as temporary resistance.

🔍 Exchange flows also support a bullish narrative, as whales are withdrawing BTC from exchanges and opting to HODL.

📈 If BTC manages a confirmed breakout above 120K, we could see a rally towards 123K–125K.

📉 On the flip side, a rejection at resistance may lead to another retest of the 116K support zone.