Bitcoin Price Dey Settle Below $120K, Eyes $122K-$124K
After Bitcoin reach im highest point close to $122,250, e correct small and now e dey steady under $120,000. E hold support around $118,600 on the hourly chart, where one bullish trend line junction with 100-hour SMA.
Immediate resistance dey at $120,250 and $120,850, if e clear pass $120,500 sharply, e fit target $122,250, $124,000 and even $125,000. But if e no fit clear $120,500, Bitcoin price fit drop go $118,600, $117,800 or even lower reach the important $113,500 floor.
Hourly technical indicators show say MACD dey lose im bullish strength and RSI dey trade below 50. Traders suppose watch the key levels at $120,000 and $118,600 for signs of the next direction move.
Neutral
Di konsolidashin for trading unda $120K afta di $122K peak show say di traders dey confuse. For short term, di loss of bullish momentum for MACD and RSI wey come below 50 mean say di upside no plenty and e fit lead to deeper correction if di support at $118.6K fail. But if e break firm above $120.5K, e likely go start fresh rally go $122.25K and even higher, wey go create bullish momentum. For long term, if support aroud di 100-hour SMA and trend line hold, e fit help continuous recovery, but if dem no fit hold critical floors, e fit extend bearish sentiment. So, di impact still neutral until we see clear breakout or breakdown.