$BTC BTC 4H Update

BTC is currently at $119,086 (-2.19%) after rejection from the resistance area of $122,300.

The price is held above MA25 ($118,178) which is the nearest support, while MA7 is starting to curve down indicating potential consolidation or further correction.

Volume is decreasing after the previous price surge, indicating the market is seeking a new direction. If the support at $118,000 holds, there is a chance to retest $120,600 – $122,300. However, a breakdown below could lead the price towards $116,400.

Support: $118,000 – $116,400

Resistance: $120,600 – $122,300