Bitcoin Reject for $123K, Bearish Shift Fit Risk Altcoins
After Bitcoin hit $122,838 high for July 14, e price face gbaga sell-off for second Alpha Price resistance around $123,370. On-chain data dey show say investors dey defend their profits for that level, plus big whale transfer on July 17 come add pressure. Hourly chart for TradingView show bearish Quasimodo Level (QML) for $119,000â$121,000 zone. Bitcoin no fit reclaim dis zone confirm say market structure dey bearish. Immediate support dey for $116,000, and if QML zone no dey reachable, deeper pullback reach $113,600 possible. This bearish talk still dey affect altcoins. XRP peak $3.65 now dey correct go $3.45. Ethereum climb pass $3,600 and now dey consolidate near $3,500. If e drop under $116,000, widespread liquidations fit happen for crypto market. Traders suppose watch Bitcoin price action around $116,000 and $113,600 support levels. Need strong break pass $123,370 to bring back bullish momentum and target possible rally reach $143,000.
Bearish
Bitcoin dey face repeated rejection for big resistance levels, plus on-chain whale activity and one confirmed bearish Quasimodo structure, dem dey show say short-term downside risk dey. If e no fit reclaim di $119Kâ$121K zone, market structure don turn bearish, make e likely say e go pull back reach $116K or even $113.6K. Altcoins, wey dey often correlate with Bitcoin, fit face more selling pressure, make caution plenty till Bitcoin fit retake critical resistance near $123.37K.