$BTC is currently trading at $119,410.99, showing extremely high valuation levels that demand careful planning before entering a trade. The strong support lies around $115,500 – $116,200, where significant buying pressure has historically stepped in to halt declines. The next support zone is at $117,200 – $117,800, a short-term safety net for intraday traders.

The resistance zone is near $121,800 – $122,500, where sellers have frequently pushed prices back down. A breakout above this level with strong volume could signal bullish continuation. For protection, a stop-loss can be placed around $114,800, just below the strong support area, to minimize downside risk in case of a sharp correction.

Traders may consider buying near support and selling near resistance while closely watching Bitcoin and market sentiment, as large moves in overall crypto markets can heavily influence $BTC next direction. Volume spikes are key signals for confirmation.