Bitcoin is currently trading around 116,400 💹 after a sharp drop from the ATH region near 124,000. Price moved from bullish accumulation into consolidation and is now testing a potential breakdown or fake-down zone.
🧠 Market Overview: 🔻 Previous move: Accumulation → Breakout → Rally into ATH 🏔️ 🔁 Current structure: Consolidation followed by breakdown pressure ⚡ 🔼 Resistance: 117,293 → 118,132 📉 Support: 115,956 → 113,813 zone
🎯 Key Scenarios:
🔼 Bullish Continuation Possibility 🚀 If BTC reclaims 117,293–118,132, then upside momentum could push toward 120,000+ liquidity.
🔻 Bearish Breakdown Possibility 📉 If price fails to hold above 115,956, then deeper downside may open toward:
⚠️ Disclaimer: This analysis is for educational and informational purposes only. It is not financial advice. Please conduct your own research before trading.
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