#ShareYourThoughtOnBTC ⚖️ BTC Today: Neutral Consolidation After Volatile Weekend
Bitcoin (BTC) is currently in a phase of consolidation, having successfully bounced back from a sharp sell-off that occurred on the preceding Friday. The overall sentiment is cautiously neutral in the short term, with strong long-term conviction remaining intact.
📊 Current Technical Outlook
Timeframe Outlook/Sentiment Key Price Levels
Short-Term (1-6 Weeks) Neutral/Hold Resistance: $115,600 - $116,800. Support: $113,400 - $114,000.
Medium-Term (1-6 Months) Weak Positive Resistance: $123,000 (Top of the rising channel). Support: $106,000.
Long-Term (1-6 Quarters) Positive Strong Trend: Remains in a strong, rising trend channel.📰 Summary of Key Factors
Price Recovery: BTC has rebounded strongly from a low around $107,000 following a massive, record-setting liquidation event across the crypto market last Friday. The current price is around $115,000 - $116,000.
Consolidation: The price is now trading within a tight, horizontal range in the short term, indicating that the market is absorbing the recent volatility and waiting for a definitive break in either direction.
Diverging Signals: Short-term momentum indicators show bearish pressure (RSI below 50, MACD selling signal) or are neutral, reflecting the recent correction. However, the long-term trend remains bullish and the daily chart shows an impressive recovery.
Critical Levels: The $113,500 - $114,000 zone is acting as immediate, important support, as it proved resilient during Friday's plunge. A definitive break above $115,600 to $116,800 would signal short-term bullish momentum, while a move back to the $125,000 - $126,000 all-time high zone is needed to re-activate the medium-term rally.$BTC
