Bitcoin Dips Below $118K — Monitor for Follow-Through
I noticed Bitcoin briefly slipped below $118,000, a short-lived move that looks more like intraday volatility than a clear trend reversal. The dip occurred with moderate volume and without a decisive break of longer-term supports.
I view this as a testing phase around current resistance and support zones; momentum and funding remain mixed, so I’m not seeing a clean signal to change the medium-term bias. I’ll be watching on-chain flow, futures funding, and the weekly close for confirmation.
If Bitcoin reclaims $118,000 on strong volume I’ll lean bullish again; if it sustains a break below the next support I’ll tighten risk controls and reassess position sizing.
Analysis
Recommendation
Watch for confirmation: avoid large new entries until price and volume provide clear direction; use tight risk management if adding or trimming exposure based on support tests.
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.