Right now, Bitcoin is trading at $116,544.40, showing signs of hesitation after hitting a 24h high of $117,630. The bulls tried to push it, but we’re seeing some cooling off in the 1-hour chart. Is it just a pause before another breakout? Or is it a trap before the dump?
📉 The Bollinger Bands are narrowing, and the price is flirting around the middle band (MB: 116,853.77), hinting at a possible consolidation or a coming squeeze.
🔍 The MACD is still in bearish territory (-125.96), while the histogram shows consistent red bars. Momentum is weakening — this could be a fakeout zone. Smart money might be waiting for weak hands to fold before making the next big move.
📊 Volume has dropped compared to the initial breakout, and price is sticking near the 5MA line. That’s usually a danger zone or decision point.
💡 What I’m Watching:
A bounce from the 116k support could push us back to test 117,500+
A drop below 115,600 might trigger a short wave down to 114,000
If the MACD flips positive + volume rises = strong bullish signal
🚀 Next Move?
If you’re a scalper, keep eyes on the 15m ca#BinanceHODLerPROVE ndle formation. For swing traders, wait for volume confirmation.
This isn’t just numbers – this is a war zone. Either you act smart, or the mar$BTC
k$et eats you alive.#CFTCCryptoSprint #USFedNewChair
