$BTC
Some predictions for Bitcoin (BTC).
* The current price is 117461.0 USD with a change of -351.00 USD (-0.00%) from the previous close.
* The highest trading level during the day is 118171.0 USD and the lowest trading level during the day is 116821.0 USD.
There are signs of a potential corrective wave in Bitcoin trading, despite recently reaching new levels.
Here’s an analysis based on the latest movements:
Bullish momentum and record highs
• Bitcoin recorded a record above 118 thousand dollars, supported by institutional flows and regulatory opportunities amid "Crypto Week" in Washington.
• Such rises without correction usually raise fears of triggering a short-term bearish wave.
Technical Correction Signals
• A "Head and Shoulders" pattern formed on the 4-hour chart could push the price down towards ~78 thousand dollars.
• The Relative Strength Index (RSI) has reached overbought levels, reinforcing the hypothesis of a nearby correction.
• Technical analysts (like Tony Severino) point to a possible correction around 75 thousand dollars before a new bullish wave begins ([Arab Crypto Cap]).
Short-term Support
• The level ~81–82 thousand dollars seems to be technical and genetic support (previous levels, whale participation, on-chain support).
• A drop below could open the door for a larger decline towards 70–75 thousand dollars.