$BTC Bitcoin: Breakdown to US$111,855 or Breakout Above US$120,000❓❓❓
📈The BTC long/short ratio has tilted into bearish territory, confirming that bullish sentiment among leveraged traders may also be fading. At the time of publication, it was below one at 0.96.
👉Daily trading volume for Bitcoin has declined from its peak in July, indicating reduced market participation. If profit-taking strengthens, this major coin could potentially drop towards US$111,855.
However, if new demand enters the market, the coin's price could regain strength and rise towards US$116,952. Breaking through this resistance is key before the coin can rally back above US$120,000.
