Bitcoin has climbed back to $119,000, regaining strength after recent pullbacks. However, despite the recovery, key indicators are flashing mixed signals, leaving traders cautious.
On one hand, on-chain data shows strong accumulation by long-term holders, a positive sign for future price stability. Yet, technical charts reveal a potential bearish divergence, with momentum indicators like the RSI showing signs of exhaustion.
For now, Bitcoin holds firm, but the market remains at a critical juncture. A breakout above $120K could trigger further upside, while failure to hold current levels might invite another correction.
