Bitcoin remains in a macro bullish structure, but recent price action shows consolidation after breaking through major resistance levels earlier this month. Similar to previous cycles, BTC tends to form short-term ranges after strong rallies before deciding the next move.
Currently, BTC is trading near $116,500–$117,000, just above a key support zone from $115,200 to $114,500. This area aligns with previous breakout levels and the 20 EMA on the 4H chart, making it critical for the short-term trend.
*Bullish Scenario: Holding above $115,200 and breaking $118,600 with strong buying volume could push BTC toward $120,500–$122,000 within days.
*Bearish Scenario: A close below $114,500 could trigger a correction toward $112,800–$111,900. Losing this level may extend the retracement to $110,200 (major demand zone).
Summary:
BTC is consolidating near key support. Past scenarios suggest a breakout above $118,600 could fuel the next bullish leg, but losing $114,500 risks a deeper pullback toward $112,800. The next 2–4 days should define short-term direction.
Currently, BTC is trading near $116,500–$117,000, just above a key support zone from $115,200 to $114,500. This area aligns with previous breakout levels and the 20 EMA on the 4H chart, making it critical for the short-term trend.
*Bullish Scenario: Holding above $115,200 and breaking $118,600 with strong buying volume could push BTC toward $120,500–$122,000 within days.
*Bearish Scenario: A close below $114,500 could trigger a correction toward $112,800–$111,900. Losing this level may extend the retracement to $110,200 (major demand zone).
Summary:
BTC is consolidating near key support. Past scenarios suggest a breakout above $118,600 could fuel the next bullish leg, but losing $114,500 risks a deeper pullback toward $112,800. The next 2–4 days should define short-term direction.
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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.
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.