BITCOIN → Stopping after the rally? What next? 125K or 110K?

12 lug

BTCUSDT rose and updated its historical maximum to a new record of 118K with “kopecks” (different prices on different exchanges). Now the price has supposedly stopped and entered a consolidation phase, but it is too early to draw any conclusions based on this alone...



Fundamentally, Bitcoin rose following the SP500 and NQ100 indices. The reasons are clearly geopolitical. The correlation level is not high, but the flagship is following the stock indices, which are also updating their historical highs.
Technically, Bitcoin has emerged from a two-month consolidation and entered a realization phase. So what's next? Continuation of the phase or correction? Let's take a look.

On the daily chart, I would highlight two zones. The risk and sell zone is below 117,500. If the price closes below this zone today/tomorrow, we will most likely be able to look for signals for a possible correction. As part of the correction, we can expect a decline to 115,500, 114,300, or even to the old ATH of 112K.

The second zone is the buying zone. A closing price above 118,400–118,900 and consolidation with the gradual formation of a breakout of structure may hint at a possible continuation of growth toward psychological targets.

Resistance levels: 118,400, 118900
Support levels: 117100, 116700, 115500



In the chart above, I have highlighted the situations, levels, and zones that interest me more precisely.
Now I am waiting for Bitcoin to retest resistance or support and confirm certain levels, based on which decisions can be made. I think that in the near future, Bitcoin will show us where it is headed. Updates will be published as something interesting emerges...

Best regards, R. Linda!

12 lug

Nota

Why am I talking about confirming certain zones or levels, since we all know that after a rally, Bitcoin enters a very long period of consolidation (weeks, months). The reasons are obvious...

Retracement zones are not always reliable and important for the market, which is why, in order to make a decision to buy or sell, you need to understand that the market also sees these zones and is ready to fight for them. Where there is a fight, there will always be winners and losers. Let's draw conclusions...

12 lug

Nota

Based on the behavior of the price on H1, I dare to assume that Bitcoin will go below 117,130. For example, to 116.7.

13 lug

Trade attivo

Focus on the specified levels and zones.
Bitcoin may bounce off resistance and test the liquidity zone at 116.7 before continuing its growth.

14 lug

Trade chiuso: obiettivo raggiunto