Bitcoin, the king of crypto, isn’t immune to market storms. Over the past 24 hours, BTC has taken a sharp dive, sliding 3.30% and currently trading at $117,568.6. After touching a recent high of $124,539.4, traders are now watching the charts with raised eyebrows, wondering — is this just a healthy correction or the start of a deeper retracement?
◆ Token Background
✔ Launched in 2009 by the mysterious Satoshi Nakamoto
✔ Maximum supply: 21 million BTC
✔ Widely called "Digital Gold"
✔ Dominates the crypto market, influencing altcoin trends
📊 Market Data Snapshot
➡ Current Price: $117,568.6
➡ 24h Change: -3.30%
➡ 24h High / Low: $124,539.4 / $117,353.2
➡ 24h Volume: 174.95K BTC (~$21.16B USDT turnover)
➡ Total Supply: 21M BTC (circulating ~19.7M)
➡ Market Cap: ~$2.3T
📌 In the past week, BTC surged from $116,247 to $124,539 before profit-taking triggered today’s pullback.
📈 Technical Analysis (4H Chart)
1️⃣ Moving Averages:
MA(5): $120,376.8 – now above price, showing short-term bearish pressure.
MA(10) & MA(20): $120,887.5 & $120,101.6 – both turning downward, signaling momentum loss.
2️⃣ Price Action:
Local double top near $124.5K
Heavy red candles = aggressive selling pressure
3️⃣ Volume:
Large spike in selling volume → signs of capitulation by short-term traders
4️⃣ MACD:
Bearish crossover confirmed
Momentum currently favors sellers
Key Support Levels:
◆ $117,300 (immediate)
◆ $115,500 (major 4H support)
Key Resistance Levels:
◆ $120,000 (psychological + MA confluence)
◆ $124,500 (recent top)
🔮 Price Prediction
✔ Short-term: Possible retest of $115,500 before bounce
✔ Recovery potential to $120K if buying volume returns
✔ Break below $115.5K → possible drop to $112K–$113K
✔ Mid-term: If bullish sentiment reignites, BTC could retest $125K–$130K by late Q3 2025
💡 Conclusion
BTC’s drop is a reminder that:
◆ Corrections are part of every uptrend
◆ Smart traders watch for opportunity zones at support levels
◆ Patience and risk management are key in volatile conditions
📌 What’s your move right now — stacking sats or staying on the sidelines?
💬 Share your thoughts & 📤 spread this with your trading circle.