Bitcoin’s breaching of the $120,000 threshold appears short-lived. Technical indicators show a growing bearish momentum:
BTC slipped below $120K and dropped past key technical supports around $118K and the 100-hour moving average. A descending channel and Fibonacci retracement levels are now firmly in play .
Resistance looms at $118K, with the next upside hurdle near $118.5K; failure to reclaim those levels may send BTC back toward $115–116K .
The overarching view: the $120K psychological barrier risks becoming “goodbye” unless buyers step in decisively.
Dogecoin (DOGE): Treading the Edge—But Not Breaking Yet
Dogecoin is treading a narrow path—but so far, avoiding a breakdown:
Despite a sharp decline (recent 22% drop post previous rally) that rattled investors, this is better described as a retracement rather than a full breakdown .
Analysts note that DOGE is forming bullish setups, with potential "can-avoid-breakdown" scenarios if momentum stabilizes. Past resistance levels around $0.18–$0.22 may offer recovery points .
Technical indicators suggest DOGE could rebound if broader crypto sentiment improves and social-media-driven hype returns.
Shiba Inu (SHIB): Standing on a Knife-edge of Shock
Shiba Inu’s price is volatile, flirting with breakdown territory—but not quite plunging:
Price today hovers near $0.000012–$0.000013, down around 5–10% over the past week. It remains roughly 86% below its all-time high set in September 2021 .
Recent volatility includes record-tight Bollinger Bands, which often precede sharp moves—hinting that a “price shock” could be imminent .
Nonetheless, bullish signals include strong support at key levels and whale accumulation patterns, which could cushion the fall or trigger counter-moves .
Long-term fundamentals remain mixed—SHIB continues to evolve via Shibarium and community engagement, but skepticism persists regarding utility and growth potential .
Summary Table
Crypto AssetCurrent SituationKey Technical LevelsOutlook SummaryBTCBroke below $120K; bearish signs emergingResistance: $118K–$118.5KRisk of further drop unless bulls returnDOGERetracement after rally; holding above key supportSupport: ~$0.18; resistance resets at ~$0.22Likely stabilizing—recovery possibleSHIBHovering near critical support; high volatilitySupport: ~$0.000012; downward risk loomsVolatile—could shock either way
Final Thoughts
Bitcoin's retreat below $120K reflects fragile bullish momentum—unless it retakes key resistance, further losses may loom.
Dogecoin appears to be avoiding an outright breakdown—though recovery hinges on renewed sentiment and bullish catalysts.
Shiba Inu is highly vulnerable; its tight trading range and thin technical structure leave it exposed to abrupt moves ("price shock"), yet accumulation and Shibarium development offer glimmers of support.