Bitcoin Price Watch: Consolidation Continues After $122K Rejection

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.