#DeFiGetsGraded

On the daily chart, bitcoin continues to display a bullish macro structure, carrying momentum from the rally that began in late June and peaked in mid-July. The market has since shifted into a sideways consolidation phase, with support established near $112,000 and resistance just below $122,000. The price action resembles a bullish flag formation, suggesting the potential for continuation if buying pressure returns. Volume has declined since the failed breakout in late July, which reinforces the idea of market participants waiting for a decisive move before committing heavily.