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BTC

Bitcoin spikes to $124K then retreats — monitor for consolidation

I noticed Bitcoin spiked to $124,000 and then pulled back — looks like a sharp run followed by profit-taking.

I'm watching price action and volume to see if the move becomes consolidation or a deeper retracement. I won't assume trend change until key support holds.

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Analysis

The $124K print appears as an exhaustion rally with immediate profit-taking. A healthy follow-through requires sustained volume and holds at nearby support levels; without that, the pullback could ext...

Recommendation

I'm watching for confirmation — avoid new large longs until price shows stable support or bullish volume. Consider buying on verified weakness or consolidation rather than chasing the spike.

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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