Bitcoin Pullback Tests 117k Support — Watch for Bounce or Breakdown
I see Bitcoin at 118,505 USDT, down ~3.97% in 24 hours with a 24h high of 124,474 and a low of 117,204. Volume is around $1.04B, indicating conviction behind the move.
This appears to be a short-term pullback testing support near 117k. If that level holds and volume eases, a rebound toward the recent highs is plausible; a decisive break below 117k would likely extend the correction.
I will watch price action and volume around 117k–115k and avoid chasing buys until I see a clear bounce or confirmation of support.
Analysis
Short-term negative bias as BTC tests 117k on heavy volume. Holding this zone suggests consolidation and potential retest of recent highs; a breakdown would widen losses.
Recommendation
Watch price and volume around 117k–115k. Prefer to wait for confirmation or buy on weakness rather than initiating fresh positions now.
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.