Bitcoin Holds Near $118k — Hold and Buy on Weakness
I see Bitcoin trading at $117,776.40, up 0.4% with a session high of $117,894.40 and low of $116,867.20. Volume is elevated, showing sustained market participation.
I view this as a modest continuation rather than a decisive breakout; momentum exists but isn’t strong enough to rule out short-term pullbacks.
My approach is to hold current exposure and look to add on weakness around key support levels rather than chasing higher prices now.
Analysis
Intraday strength with elevated volume suggests balanced bullish bias, but lack of acceleration implies potential choppy action. Watch support around the $116k area for a cleaner buying opportunity.
Recommendation
Hold existing positions and plan to buy on weakness near support; avoid chasing intraday highs and manage risk with stops if adding exposure.
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.