Bitcoin Price Watch: Consolidation Continues After $122K Rejection
Main Idea
Bitcoin's price is consolidating between $112,000 and $122,000 after a recent rejection at $122,300, with technical indicators suggesting a neutral to bullish bias.
Key Points
1. Bitcoin is trading at $118,400 with a market cap of $2.35 trillion and 24-hour trading volume of $45.32 billion.
2. The price range has been between $118,252 and $120,693, with support near $112,000 and resistance below $122,000.
3. Technical indicators like RSI (58), stochastic (74), and MACD (794) show a neutral to bullish trend.
4. A break above $120,000 could lead to a retest of $122,000, while a drop below $117,000 may trigger more selling pressure.
5. Long-term moving averages (EMA 200 at 102,005 and SMA 200 at 99,886) confirm the broader bullish trend.
Description
Bitcoin’s price is trading at $118,400, with a market capitalization of $2.35 trillion and a 24-hour trading volume of $45.32 billion. The intraday range has been between $118,252 and $120,693, signaling a day of relatively contained volatility despite recent swings in momentum. Bitcoin On the daily chart, bitcoin continues to display a bullish macro structure,
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