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BTC

Bitcoin Consolidating Near $118K — Watch for Breakout or Breakdown

I see Bitcoin trading around $117,698 with a 24‑hour decline of about 3% but a modest 7‑day gain; market cap (~$2.3T) and volume (~$73B) show strong liquidity despite short‑term volatility.

This looks like consolidation between support near $117.6k and resistance near $124k — a sustained move above $124k would confirm upside, while a breakdown below recent lows would increase downside risk.

The note about trading Solana memecoins with Axiom is unrelated to Bitcoin and refers to speculative activity in the Solana ecosystem.

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Analysis

Price action shows short-term weakness within a higher liquidity market; the key technical picture is sideways consolidation. Monitor support at ~117.6k and resistance at ~124k for directional confirm...

Recommendation

I am not issuing an immediate buy or sell — watch the defined levels. Consider buying on confirmed weakness near support if risk tolerant or wait for a clear breakout above $124k for momentum entries.

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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