Bitcoin (BTC) is experiencing minor declines, trading near $118,301 with a 0.11% drop, as it remains confined between key technical levels. The leading cryptocurrency faces immediate support around $116,594 and resistance near $119,682, indicating constrained price movement.
The Average True Range (ATR) indicator suggests continued sideways trading is probable, though analysts warn of potential correction risks toward the $112,000-$114,000 range. This cautious outlook follows Bitcoin’s recent rejection at the $119,482 resistance level, with a significant weekly close below this threshold potentially triggering mid-term downward pressure.
Contrasting Bitcoin’s stagnation, the broader cryptocurrency market shows robust gains across multiple altcoins. Market observers note this divergence highlights shifting capital flows within the digital asset ecosystem.
Traders are advised to monitor key technical levels closely vigilance through reliable information vigilance through reliable information sources amid the current market uncertainty.