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Bitcoin Price Stabilizes Between $118,000 and $120,000 After Testing $117,400

Bitcoin price remains above the $117,500 support zone, with potential to break the $118,620 resistance for bullish momentum.

BTC

Summary

Bitcoin is currently trading at approximately $118,500, showing signs of recovery after a decline from $119,796. The price is approaching the $118,620 resistance level, with key support at $117,500. A breakout above $119,800 could lead to further gains, while failure to breach the resistance may result in a decline towards $116,000.

Terms & Concepts
  • Resistance Level: A price point at which selling interest is strong enough to prevent the price from rising further.
  • Support Level: A price level at which buying interest is strong enough to prevent the price from falling further.
  • MACD (Moving Average Convergence Divergence): A trend-following momentum indicator that shows the relationship between two moving averages of a security's price.