📈 Overall trend: $BTC bullish on the 4-hour frame after a strong rebound from support at $120,000.
📊 Price Action: Bullish engulfing candle enhances the likelihood of testing resistance at $122,500.
📌 Important levels:
Support: $120,000
Resistance: $122,500
Potential Targets: $124,000 – $125,500
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📰 Influential news:
1. Record institutional inflows to funds #bitcoin since the beginning of the year ➡️ Strong price support.
2. A global payment company adds #BTC as a payment method in new markets ➡️ Boosting adoption.
3. Decrease in the balance $BTC on centralized exchanges to the lowest level in a year ➡️ Reducing the available supply for sale.
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✅ Positives:
Upward trend supported by high trading volume.
Positive news from major institutions and payment companies.
Decrease in supply on exchanges, which reduces selling pressure.
⚠️ Negatives:
Strong resistance at $122,500 not broken yet.
Potential price correction if the breakout fails.
