Bitcoin is currently trading around **\$116,219**, showing a **-1.75%** decline in the last 24 hours. The chart highlights strong volatility, with recent highs at **\$124,474** and lows at **\$111,920**.
### ๐ Technical Breakdown:
* **Moving Averages (MA):**
* MA(7) โ 116,116 โ Price is consolidating around this level, indicating short-term support.
* MA(25) โ 117,396 โ Resistance in the near term.
* MA(99) โ 117,044 โ Price is trading slightly below, showing bearish pressure.
* **Support Levels:**
* \$114,600 (strong support)
* \$111,900 (major support zone)
* **Resistance Levels:**
* \$117,400 (immediate resistance)
* \$119,500 (next resistance)
* \$124,000 (recent swing high)
* **Trend:**$BTC
After the sharp rise toward **124k**, Bitcoin corrected and is now consolidating near support. The short-term outlook is **bearish to neutral**, but if support holds, a reversal is possible.
### ๐ Next Move:
* If BTC holds above **\$114,600**, we may see a bounce back toward **\$117,400โ\$119,500**.
* A break below **\$114,600** could push BTC toward **\$111,900** or lower.
### ๐ฏ Trading Plan:
* **Entry Zone:** Around **\$114,600 โ \$115,000** support region.
* **Target 1:** \$117,400
* **Target 2:** \$119,500
* **Target 3 (long swing):** \$124,000
* **Stop Loss:** Below **\$111,500** to minimize risk.
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## ๐ Conclusion
BTC is in a **correction phase** but nearing strong support levels. Traders can look for a bounce entry around \$115k with targets up to \$124k, keeping a tight stop below \$111.5k. Patience and risk management will be key in this volatile range.