Bitcoin is consolidating just below \$120,000 after Tuesday’s sharp pullback – which came on the highest daily volume since the \$74,000 bottom in March – mostly driven by selling. Despite the pressure, price held support cleanly at \$117,582 and continues to range tightly, suggesting healthy consolidation after a strong breakout above \$112,000. As long as \$117,582 holds, the structure remains bullish. A close above \$120,000 could ignite the next leg higher.
scott.melker@texaswestcapital.com
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scott.melker@texaswestcapital.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.