Trend & Momentum
Bitcoin is trading at $117,600–$118,103, maintaining a bullish structure within an ascending channel, supported as long as price holds above $116,500.
Short-term signals include EMA and MACD bull crossovers, but the 6-period RSI is showing overbought conditions, confirming mild profit-taking and a pullback from recent highs.
Bollinger Bands are tightening, which signals that a volatility breakout may occur soon.
ETF Inflows & Whale Activity
Recent ETF inflows have totaled over $522 million, strongly boosting price to $121,595 earlier in the week, but most recent spot ETF data indicates net outflows and even some stagnation, suggesting consolidation.
Significant whale transfers from exchanges and dormant wallets hint at some profit-taking and supply increase, which can moderate bullish momentum in the short term
Targets: $119,300 (short), $120,800–$122,500 (medium), $124,576 (bull case).
Support: $116,500 (critical), followed by $113,500–$112,300.
Entry: Consider entering near $117,200–$117,600 if price holds above $116,500
