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BTC

Bitcoin Stuck Below $120,600 Resistance After Weak News

I view Bitcoin as range-bound after Putin's meeting failed to deliver meaningful positive catalysts. The market is encountering steady resistance at $120,600, and upside appears limited until a decisive breakout occurs.

I will remain cautious and avoid adding new long positions now; shorter-range trades within the band may work, but I want to see a clear breakout on volume before changing stance.

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Analysis

Price action shows consolidation with a clear resistance around $120,600 and no new fundamental driver from recent political developments. Momentum and volume are muted, reducing the probability of a ...

Recommendation

Hold existing positions and avoid initiating new longs until price breaks above $120,600 with conviction; consider range-bound strategies or tight risk controls for shorter-term trades.

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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