Bitcoin Market Update – Key Buy/Sell Levels 🟢🔴
$BTC has been moving sideways after yesterday’s PPI-driven drop. Support held, the CME gap closed, and we’re now seeing a bounce from Fibonacci support.
📊 Current Status
Price still inside local range ✅
Support zone ends at $116,930 — still intact
Pullback looks corrective (likely Wave 2 or Wave 4)
Macro targets already hit → We are in a major topping area 🏔️
Short-term bias: Still room for higher prices unless support breaks
📌 Bullish Scenario (Buy Bias)
As long as $116,930 holds, expect further upside
Resistance levels to watch for breakouts:
$119,838
$120,640
$121,448
$122,000+
Break above $122K = potential push higher before major reversal
⚠️ Bearish Scenario (Sell Bias)
Break below $112,000 = First major top signal
Watch for a 5-wave decline → This would confirm a larger drop toward ~$60K over time
If $116,930 breaks, expect B-wave bounce then deeper C-wave drop
🎯 Bottom Line
Above $116,930 → Buy dips for short-term upside
Below $112,000 → Sell rallies for potential larger correction