$BTC 🚀📈

BTC surged to a record high near $124,000–$124,500 earlier this week but then retraced about 4–4.5% following concerning U.S. inflation data.

Reuters

Resistance & Technical Pressure

Bitcoin faces a strong sell wall at around $120,000, evidenced by a “death cross” formation on the 4-hour chart and bearish divergences on daily RSI—both suggesting short-term downside risk.

Volatility Outlook

The DVOL (digital volatility) index remains at historic lows, indicating complacency in the market. A sudden macro event could fuel sharp moves either up or down.