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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.
Authors credited by the source: Aayush Jindal
Published by Holder based on an external source.
