Bitcoin Bullish Caution as Volume Diverges

Bitcoin maintains its upward trend but the decreasing trading volume divergence begins to raise concerns. The price has surpassed $121,000 robustly. However, the decline in volume might indicate an upcoming correction, which could serve to renew the bullish momentum. The bullish impulse was triggered following a clear break of structure (BOS) and confirmation of demand around the $117,000 level. The volume profile indicates prior accumulation in this zone, now acting as a critical support. The highlighted liquidation zone suggests strong buyer presence, trapping short sellers. Yet, there is a noticeable reduction in buying pressure as the price advances, which could hinder immediate continuation. If Bitcoin stays above the support level and surpasses $123,000, it might head towards a new rally up to $125,000. However, a technical correction back to the demand zone seems plausible before hitting new all-time highs.