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BTC

Bitcoin Range-Bound; Resistance at $120,600 Caps Upside

I see Bitcoin stuck in range-bound trading after Putin's meeting failed to deliver any substantive positive news. The market is facing clear resistance around $120,600, which is capping near-term gains.

With no fresh bullish catalysts, momentum looks limited and price action may remain choppy. I expect muted volatility rather than a decisive breakout unless new drivers emerge.

I'm cautious now: this is not the moment to add aggressively to longs. Wait for a confirmed breakout above $120,600 or stronger macro/on-chain signals before increasing exposure.

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Analysis

Putin’s meeting produced no meaningful positive catalyst, leaving BTC trapped below $120,600 resistance; absent new drivers, technical momentum is weak and upside appears constrained in the short term...

Recommendation

Hold existing positions and avoid initiating large new longs. Wait for a clear breakout above $120,600 or stronger bullish signals before buying.

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.

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