1. Summary

$BTC Bitcoin has retraced from ~$124k to ~$115k driven by profit-taking and renewed inflation/PPI concerns — prefer cautious, low-risk entries on support retests.

• Price snapshot: ~ $114.7k.

• Catalyst: profit-taking after record highs + macro data (PPI) and Fed/Jackson Hole headline risk.

• wait for a clean retest or a volume-backed breakout.

2. Market Overview

Flows are fragile — recent >$1B market-wide liquidations amplified the pullback and shifted near-term risk appetite.

3. Technical Analysis

Short-term bias: neutral-to-bearish while below ~118.8k; immediate support ~114.3–114.8k (chart level), resistance ~118–119k; 1H RSI reads low, indicating short-term oversold conditions.

4. Fundamental Analysis

The drawdown is largely profit-taking plus repricing on inflation prints and rate expectations; this is a macro-led pullback rather than a fundamentals break of BTC narrative.

5. Sentiment Analysis

Net sentiment: risk-off and profit-taking among retail; some accumulation by larger entities reported but market remains event-sensitive.

6. Strategy

  • Entry: staggered probe buys on a clean retest of $114k–$115k with confirming bullish action; or buy on confirmed breakout above $118.8k with follow-through volume.

  • Stop-loss: below $112k (invalidates support zone).

  • TP1: $124k — TP2: $135k; scale out into resistance and volume.

  • Early exit triggers: hawkish Fed commentary at Jackson Hole, renewed large liquidations, or breakdown below $112k on heavy volume.