Bitcoin Price Consolidates Below $121,200 With Key Support at $118,600

Bitcoin Price Update

Bitcoin is correcting below $121,200.
Current trading price is above $118,000 and the 100 hourly Simple Moving Average.
A bullish trend line is forming with support around $118,600.
If Bitcoin clears $120,250 resistance, it may increase further.

Key Support and Resistance Levels

Resistance: $120,000, $120,250, $120,850.
Support: $118,600, $117,800, $116,550, and $115,500.
Main support at $113,500 could trigger further declines if breached.

Technical indicators show a weakening MACD in the bullish zone and an RSI below 50. Immediate action needed near key resistance and support levels to gauge potential movements.