๐ Bitcoin Price Teeters Below Resistance โ Another Drop Ahead? ๐จ
Bitcoin is once again struggling below $115,500, failing to maintain momentum above $114,000 and the 100-hour SMA. After a small recovery from $112,000, BTC broke above $113,200 and $114,000, but couldnโt push past the strong barrier near $115,500 (50% Fib level).
๐บ Upside Possibility:
๐น Immediate resistance: $114,400 (trendline)
๐น Key levels to break: $115,000 and $115,500
๐น Successful breakout could target: $116,500, then $118,000โ$120,000 ๐
๐ป Downside Risk:
๐ธ Immediate support: $113,200
๐ธ Stronger levels: $112,500, then $112,000
๐ธ Below that: Risk of falling to $110,500 or even $108,500 โ ๏ธ
๐ Technical Signals:
MACD: Bearish momentum building โ
RSI: Under 50, showing weakness ๐
โ ๏ธ As long as BTC remains under $115,500, the risk of another dip remains high. A clean move above that level is needed for bullish momentum to return.
