$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 correction wave in Bitcoin trading, despite recently reaching new highs.
Here’s an analysis based on the latest movements:
Bullish momentum and record highs
• Bitcoin recorded a new high above 118 thousand dollars, supported by institutional inflows and regulatory opportunities amid "Crypto Week" in Washington.
• Such rises without correction usually raise concerns about triggering a short-term bearish wave.
Technical correction signals
• A "head and shoulders" pattern has formed on the 4-hour chart that could push the price down towards ~78 thousand dollars.
• The Relative Strength Index (RSI) has reached overbought areas, reinforcing the hypothesis of a near correction.
• Technical analysts (like Tony Severino) point to a potential correction around 75 thousand dollars before a new bullish wave starts ([Arab Crypto Cap]).
Short-term support
• The level of ~81–82 thousand dollars appears to be a technical and genetic support (previous levels, whale participation, on-chain support).
• A drop below may open the door for a larger decline towards 70–75 thousand dollars.