$BTC • Current Price: $116,734.40, down 0.48% in the last 24 hours.

• 24h Range: High at $117,630.00 and low at $115,878.71, showing a relatively narrow daily range.

• Volume: 10,124.73 BTC traded in 24 hours, indicating solid liquidity.

• Short-Term Trend (15m chart): Price recently broke below the 60-period moving average (MA60 at ~$116,881), suggesting short-term bearish momentum.

• Medium-Term Trend (daily chart): After peaking around $123,218 on July 16, BTC has been in a downtrend, hitting a recent low near $112,166 before recovering slightly to current levels. However, the bounce seems modest and is facing resistance around $117,000–$118,000.

Key Observations:

• The rejection from the $123K level and failure to reclaim it quickly signals selling pressure.

• MA(5) is below MA(10) in the intraday chart, reinforcing short-term bearish bias.

• The higher timeframe shows BTC still holding above the $112K support, which is a critical zone. A breakdown here could accelerate selling.

Prediction:

• Short-Term (1–3 days): Price may continue to consolidate between $115K–$118K. A break below $115K could trigger a deeper pullback toward $112K.

• Medium-Term (1–2 weeks): If BTC holds above $112K and regains $118K, it could retest $120K–$123K. Otherwise, a drop toward $108K remains possible.

• Trend Bias: Slightly bearish in the short term, neutral-to-bullish if key support holds.