Bitcoin Pullback — Wait for a Clear Break Above $120.5 or Support Hold

I see Bitcoin trimming about 4% after a rally to ~$124,000 and now consolidating below $120,000. Price dropped under the 100-hour SMA and a bullish trend line, testing lows near $117,250.

Technicals are mixed-to-bearish: hourly MACD losing momentum and RSI below 50. Immediate resistance sits near $119,000 with key overhead resistance at $120,000–$120,500; supports are $118,000, $117,250, $116,500 and $115,500, with a main support at $113,500.

I’m waiting for a clean close above $120,500 to consider resuming bullish exposure; if that fails, a renewed leg lower toward the $117k–$113k zone is plausible and should be respected with risk limits.