Bitcoin (BTC/USD) is currently consolidating around the $117,878 zone after a sharp rejection from the local high of $119,781. With a minor drop of -0.14%, the price is testing crucial support at the pivot level of $117,805.
📉 Key Levels to Watch:
Resistance (R1): $121,490 – A breakout above this could trigger a new bullish rally.
Support (S1): $116,038 – If this level fails, BTC might revisit $112,678 (S2).
Current Range: Between pivot ($117,805) and $119,000.
📊 Volume Analysis: Volume is drying up after strong accumulation on the 28th. This signals a potential big move ahead – either a breakout or a breakdown.
⚠️ Strategy Insight:
Watch for a breakout above $119,800 with strong volume for a bullish confirmation.
A breakdown below $117,700 could lead to short opportunities down to $116,000 or lower.
🧠 Trader's Tip: Don’t rush in. Let the market reveal its direction. Stay patient and wait for volume confirmation before entering trades.
💬 Follow for More: This is just the beginning. BTC is heating up, and smart traders are already preparing. Follow me for real-time market insights and chart breakd$BTC
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