Bitcoin Pulls Back 4% After Record High — Inflation Sparks Correction
I see Bitcoin pull back about 4% to $117,460 after a $124,480 record high, a short-term correction driven by surprise inflation data.
Technicals are mixed: RSI is neutral while momentum shows divergence, so there's no clear immediate trend.
I'll watch price action around $115k–$120k for signs of stabilization; a confirmed reset there could present a buy-on-weakness opportunity rather than an immediate entry.
Analysis
I view the drop as a macro-triggered correction: neutral RSI and mixed momentum mean no clear short-term trend, so support/resistance and upcoming inflation updates will determine the next move.
Recommendation
I'm watching for stabilization around $115k–$120k and would avoid initiating full positions until momentum confirms recovery; consider buying on weakness if support holds and indicators improve.
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.