Bitcoin rose to $115,225 yesterday but failed to hold, dropping to $112,660. Since then, it has recovered, rising again to $114,400 and returning to the $113,900-$114,250 range. On-chain data indicates that short-term investors are facing selling pressure, particularly with an increase in outflows from wallets held for one week. Long-term holders (LTH) are maintaining their positions, with transfer volumes not showing significant increases. Technically,
the $115,500-$116,000 level acts as a strong resistance zone, while the $112,500 and $110,800 levels below should be monitored as short-term support. The RSI indicator is in the neutral zone at 52, but the MACD remains in the negative zone. If the $115,000 level is tested again, targets of $117,000 and $119,200 may emerge in the case of an upward breakout.
Despite Bitcoin's dominance in the overall market remaining around 60%, the altcoin market lacks a clear direction. Ongoing outflows from ETFs indicate that short-term investor sentiment remains cautious. After the regulatory changes that took effect in the U.S. last week, liquidity flows have become more selective. Given the weak macroeconomic data flow in the coming days, technical levels may become more decisive.
No fanfare for explosive gains, nor blindly opening positions
It's all about seeking stability and steady progress; those who want to profit should get on board quickly!
SUI TURMP BONK PEPE OM SOL PNUT NEIRO
