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BTC

Bitcoin briefly hits $124K then retraces — watch for confirmation

I saw Bitcoin spike to $124,000 and then pull back. The action looks like a rapid run-up followed by profit-taking and short-term volatility.

I'm not rushing in; I want to see confirmation of support or a clearer retracement before increasing exposure.

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Analysis

The $124K high followed by an immediate pullback suggests profit-taking and potential volatility; a clearer break above resistance or a healthy retracement to support would confirm trend continuation.

Recommendation

I'm watching price action closely and recommend waiting for confirmation (support holds or a renewed breakout) before initiating new long positions.

Disclaimer

The Analysis and recommendations provided are for informational purposes only. Any investment decisions should be made at your own risk. Past performance is not indicative of future results. Always conduct your own research and consider consulting with a financial advisor before making any investment decisions.

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