Bitcoin Price Analysis – Mild Bearish Trend and Possible Correction Ahead
As of now, Bitcoin (BTC) is trading at around $120,064. The market structure is showing signs of short-term weakness, with sellers gaining slight control near resistance levels. Technical indicators suggest that BTC could face a minor pullback or correction from this zone before finding strong support.
In the short term, traders should watch key levels around $118,500 – $117,000 for potential rebounds. A break below these zones may lead to further downside pressure, while holding above them could signal consolidation before the next bullish leg.
Overall, Bitcoin remains in a long-term uptrend, but short-term traders should be cautious of volatility and manage risk accordingly.