#MarketTurbulence Analysis of the charts: why did Bitcoin fall and what levels to observe?
$BTC 💥💥💥💥💥
From a technical point of view, $120,000 remains a zone of strong liquidations and profit-taking that bulls have yet to overcome.
🔸Resistances to observe:
💥$119,592: immediate resistance, aligned with the EMA 100 and 200.
💥$121,650: technical point associated with the 61.8% Fibonacci retracement from $124,420 to $117,250.
💥$123,500: main target in the bullish scenario and probably the strongest resistance.
🔸Supports to watch:
💥$118,000: immediate support and psychological level.
💥$117,250: first important support and base of the recent retracement; the most relevant floor to maintain the bullish outlook.
💥$115,500: if the previous support is lost, the price could fall to this level.
The RSI at 42 points reflects bearish control and suggests that, in the short term, slight declines or lateral movements could occur.