The price of $BTC holds
The price of Bitcoin at the time of writing is $114,337 and is under bearish market pressure. The parabolic SAR is above the candles, indicating a downward momentum. However, the 50-day exponential moving average (EMA) still serves as support, suggesting that the overall market sentiment is not entirely negative. Bitcoin may continue to consolidate, finding stability above $110,000.
Considering the current factors, the price of Bitcoin is likely to consolidate within the range of $110,000. If Bitcoin can break the $115,000 level and establish it as support, a rise to $117,261 is possible. However, overcoming the $120,000 mark in the near future seems unlikely.
If the market comes under pressure due to external factors, such as upcoming tariff announcements, Bitcoin may drop even lower. If it loses support at $111,187, it risks falling to $109,476 and continuing to decline. Breaching the $110,000 level could invalidate the bullish or neutral outlook.
