$BTC
Technical Analysis
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🔑 Support & Resistance
Support levels: ~$108,300 (former resistance), $107,000 (50‑day MA), down toward $100,000 if broken
Resistance zones: $117K–$118K has capped upside; failure to close above $120K last week indicates consolidation resistance
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🧠 Sentiment & Volume
Long-term holders remain confident (NUPL > 0.5), while short-term holders have begun taking profits, exerting minor selling pressure
Declining volume on Coinbase suggests accumulation is shifting to spot Bitcoin ETFs rather than spot exchanges
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🟩 Bull Case
Holding above $114K and breaking through $118K–$120K with volume could unlock targets around $134K–$146K.
Continuation patterns and institutional accumulation support the upside projection.
🟧 Risk Case
Failure to breach $118K, or break below support levels at $108K, could open the door to deeper retracements toward $100K
