Bitcoin is in a consolidation phase, with the price holding key support around the $113,000-$115,000 range. After a recent dip, analysts are pointing to a potential rebound as institutional players continue to accumulate. The long-term bullish trend remains intact, supported by a favorable macroeconomic environment and the ongoing impact of the halving cycle.
However, short-term technicals show some weakness, with the price dipping below a rising trend channel. A key level to watch is the $120,000 resistance mark. A decisive breakout could signal the next leg up, while a drop below support could lead to further corrections.
Keep an eye on global liquidity and institutional ETF flows, which are acting as major catalysts. The sentiment remains cautiously optimistic as the market looks for a new direction.
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