Bitcoin Price Near Support, E Show Corrective Risk
Bitcoin price dey trade for $117,837 after e drop small by 0.4%, wey fit mean say market fit correct. The recent wahala wey happen wey make e fall under $117,394 support level but false, e show say resistance fit still hold strong. The main support zones for $117,201 and between $115,000 and $116,000 go dey very important for price stability. For hourly chart, Bitcoin try make e bounce back but e face bearish palava as e near the support range. If $117,201 level no hold, price fit fall more go $115,000–$116,000. For weekly chart, Bitcoin false breakout for $123,236 dey increase risk for market correction. Traders suppose keep eye for these support levels and adjust their plans to manage how price fit drop.
Bearish
Dem categorized as bearish because di false breakout occur for di key support and e close to critical price zones. History show say wen Bitcoin break di support around $117k, e usually go correct to di next lower zone near $115k. Di failed rebound for hourly chart and di false weekly breakout at $123,236 reinforce di downward momentum. For short term, traders fit reduce their long positions to avoid stop-out risks. For longer term, if di price hold sustainably above $115,000, e fit bring back bullish confidence, but if e no fit reclaim di support, di correction go continue dem.