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🚨 Bitcoin is experiencing strong fluctuations: testing the $117K mark – over $800M in Long orders have been "liquidated".
Last weekend, BTC unexpectedly plummeted below $117,000 after the market witnessed over $800 million in longs being wiped out. This situation has led analysts to debate: is this just a "healthy" pause or a signal for a deep correction?
📊 Key levels being monitored:
• Nearest resistance: $120,000
• Important support: $116,300 – $117,000 (coincides with the 200-day EMA + Fib retracement)
• If it breaks $116K, the risk of falling to $113K – $110K
• On the contrary, surpassing $120K could pave the way towards $126K, even $130K.
⚡️ RSI gives a contradictory signal: the H4 frame shows signs of a rebound, but the daily chart still warns of selling pressure.
👉 The short-term battle will revolve around whether the bulls can hold the $116K–$117K range.