Bitcoin Pullback After Record High; Momentum Mixed
I note Bitcoin pulled back about 4% to $117,460 after touching a $124,480 record high, a dip prompted by hotter-than-expected inflation data.
On-chain and chart signals are mixed: RSI sits near neutral and momentum indicators disagree, so there's no clear directional edge right now.
I'll be watching key support and price reaction to macro prints before taking a directional position; a clean bounce would favor buyers, a follow-through decline would warn of deeper correction.
Analysis
Recommendation
Hold off on new large positions until price confirms support or momentum aligns; monitor volume and macro releases for a clearer entry signal.
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.