Bitcoin Price May Retrace to $110,000 Amid Bearish Signals
Bitcoin has recovered above $120,000 but faces bearish pressure, indicating a potential price pullback. Key points include:
- Current price action suggests exhaustion in the market.
- Resistance observed around $122,000, causing a pushback.
- Increased selling activity noted as buyers withdraw.
- Strong confluence zone for sellers identified on 4-Hour charts.
- Fair value gap exists above $112,000, making it a target for retracement.
- Potential crash to $110,000 may occur to fill gaps, setting up for future bullish momentum.
