Bitcoin (BTC/USD) Price Update & Analysis
🕒 Current Price: $118,023
📉 Change: –$323 (–0.27%)
Market Insight: Bitcoin is showing signs of short-term weakness. The price has formed a clear lower high and continued a steady downtrend after peaking near $119,500. Now testing key support near $118,000, a breakdown below this zone could trigger further decline toward $117,750 or even lower.
Trade Setup (SHORT Idea):
Entry Zone: $118,050 – $118,150
Stop Loss: $118,400
Target 1: $117,750
Target 2: $117,400
Target 3: $116,900
Watch for volume confirmation. If BTC breaks and closes below $118,000 with strong momentum, sellers may dominate the next session.
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$BTC 🚨 BTC/USDT Price Action Update – Support, Resistance & What’s Next? 📊🔥
Bitcoin ($BTC) is currently trading around $118,010, showing a slight dip of -0.78% on the daily chart. Let’s break down the current market structure and possible moves next! ⬇️📈
🔍 Key Levels to Watch:
🟢 Support Zones:
$117,100 (24h low – immediate support)
$115,200 (EMA-25, stronger support)
$113,460 (previous price floor)
🔴 Resistance Zones:
$118,964 (recent local high)
$123,218 (major resistance peak)
$124,469 (longer-term resistance)
📉 Technical Signals:
EMA Analysis: BTC is trading just below the EMA(7) at $118,241, signaling a slight short-term bearish tilt.
MACD: The histogram shows weakening momentum, and the MACD line has crossed below the signal — bearish crossover ⚠️
Volume: Decreasing volume suggests potential consolidation or a bigger move coming soon! 🔄
📈 Next Move?
If BTC holds above $117K, we could see a bounce back towards $119.5K–$120K range. But a breakdown below $115K may open doors for a correction toward $113K–$111K support levels.
👉 Bulls need to reclaim $118.9K to push higher. Bears are eyeing a breakdown below $117K.
💬 What’s your play? Buying the dip or waiting for confirmation? Drop your thoughts! 👇💭
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$ETH
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ADA Token Faces 2.18% Dip Amid $1.74B Open Interest Surge and Anticipated August Release
Cardano (ADAUSDT) experienced a 2.18% price decrease over the past 24 hours, currently trading at $0.8040 on Binance. The recent price movement is attributed to a combination of factors, including a surge in open interest to $1.74 billion, increased DeFi activity with total value locked rising by 72% to nearly $400 million, and anticipation around a potential "game-changing release" in August. Despite strong bullish momentum earlier in the week, with ADA approaching the $1 mark and breaking long-term resistance, the rally faced resistance and consolidation, leading to short-term pullbacks. Broader market influences, such as developments in U.S. cryptocurrency regulation and speculation about a Cardano ETF, have also contributed to volatility.
In the latest 24-hour period, ADA saw trading volumes between $2.09 billion and $2.27 billion, with a market capitalization ranging from $27.73 billion to $29.36 billion and a circulating supply of approximately 35.41 to 36 billion ADA. Cardano remains among the top 10-11 cryptocurrencies by market cap, with increased trading activity and ongoing investor interest driven by both ecosystem growth and broader market developments.
Ethereum Slips Below $3,700 Despite 24H Gains
Ethereum ($ETH) has dipped just under the $3,700 mark, currently trading at $3,699.30. Despite the drop, ETH still shows a modest 1.94% gain over the past 24 hours. The price movement signals a possible short-term consolidation as bulls attempt to hold key support levels amid broader market fluctuations. Traders are watching closely to see if ETH can regain momentum and push back above the psychological $3,700 threshold.
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