watch

Bitcoin Tests $118,000 — Momentum Muted, Watch for Volume

I note Bitcoin briefly touched $118,000 and is currently around $117,967, with a negligible 24‑hour change of 0.08%. This looks like a test of a psychological level rather than a decisive breakout.

The tiny 24‑hour move suggests muted momentum; I want to see volume confirmation and on‑chain or macro catalysts before treating this as trend continuation.

I’m watching price and volume closely and recommend waiting for a confirmed breakout above $118k or buying on a clear pullback rather than initiating large positions now.

Source available for registered users Sign Up Free

Analysis

Touching $118k with only a 0.08% 24h move implies rangebound action and limited momentum; a sustained move requires higher volume or macro/on‑chain catalysts to validate continuation.

Recommendation

Watch price and volume for a confirmed breakout above $118k or consider buy‑on‑weakness on a clean pullback; avoid initiating large positions until confirmation.

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.

You might also be interested in: