Bitcoin is currently consolidating between $117,000 support and $120,000 resistance, forming a tight sideways range after a strong breakout.
🔹 Structure Insight:
Bullish rally stalled at $120K resistance zone.
Range-bound candles with wicks on both ends = indecision.
Strong demand zone near $117K, acting as short-term floor.
🔸 Indicators Flash Neutral Bias:
RSI cooling off below overbought zone (~63) – no strong momentum.
ADX low and flattening – trend weakening.
MACD losing strength – bull momentum fading.
Volume declining during consolidation = awaiting catalyst.
🟢 Bullish Trigger: Break above $120K with strong volume could ignite next leg up → Targets: $122K–$127K
🔴 Bearish Trigger: Breakdown below $117K opens door to $114K–$112K retest.
🧭 Outlook: Sideways range – wait for breakout confirmation before positioning aggressively.
🔹 Structure Insight:
Bullish rally stalled at $120K resistance zone.
Range-bound candles with wicks on both ends = indecision.
Strong demand zone near $117K, acting as short-term floor.
🔸 Indicators Flash Neutral Bias:
RSI cooling off below overbought zone (~63) – no strong momentum.
ADX low and flattening – trend weakening.
MACD losing strength – bull momentum fading.
Volume declining during consolidation = awaiting catalyst.
🟢 Bullish Trigger: Break above $120K with strong volume could ignite next leg up → Targets: $122K–$127K
🔴 Bearish Trigger: Breakdown below $117K opens door to $114K–$112K retest.
🧭 Outlook: Sideways range – wait for breakout confirmation before positioning aggressively.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
A Haque
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Founder | MyTradingJournal
📊 Financial Market Analyst | Trader | Educator
🐦 Twitter: @MyTradingJnl6th
📺 YouTube: @MyTradingJournal6th
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.