Bitcoin Price Dey Hold Body Below $116.5K, Bears Dem Dey Look $112K
Bitcoin price dey hold tight below di $116,500 resistance zone and e dey trade under di 100-hour SMA, this one mean say e fit still fall more. After e reach peak for $116,743, BTC come fall down under di 23.6% Fib retracement and e dey find support around $114,500 now. Di important resistance dey for $116,150 and $116,750, if e no fit clear dem, e fit push Bitcoin price go $113,750, $113,200 and fit even reach $112,500. Di main support na for $110,500.
Di technical indicators still dey confirm say di price fit go down. MACD dey show say di momentum for di bullish side dey slow down and RSI still dey under 50. Traders suppose dey watch well make e break clear above $116,750 to confirm say e fit recover soon or if e drop under $114,500 to show say di correction go deep. To dey monitor these levels tight go help traders sabi di short-term trend and adjust their positions well.
Bearish
Di kombain analysis dey show say Bitcoin price get bearish market structure. Persistent resistance near $116,500 and e no fit break pass key levels show say sellers dey put pressure. Technical indicators like slow MACD and RSI wey dey below 50 dey reinforce short-term downward momentum. Unless bulls fit regain the 100-hour SMA and $116,750 resistance, deeper pullbacks go likely happen reach $112,500 and maybe $110,500, wey mean say sentiment dey negative for short term and maybe extend go mid-term.