🔎 What is visible on the chart:
1. Local maximum: $124,545
After this, a correction occurred.
2. Current price: ~$117,600
Holding in a sideways movement for several days.
3. Support: $115,800–116,000
The price has already bounced off this zone several times.
4. Resistance: $120,500
So far, it has not been able to break this level upwards.
📊 Possible scenarios:
Bullish 🟢: if BTC holds $115,800 and breaks $120,500, then we can expect a return to $124,000 and higher.
Bearish 🔴: if the price drops below $115,800 and stays there, the next target for decline is ~$111,200.
⚖ The market is currently in a consolidation phase
(moving within the range of $116k – $120k). This means that positions are being accumulated, and a strong movement can occur in either direction.
👉 In the coming days, the key level is $115,800. Losing this level = risk of decline.
👉 Breaking and holding above $120,500 = signal for growth.
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