Hunting for liquidity. Retest resistance before a fallBitcoin is still in correction, but is rebounding from the local low of 117.4, formed during the pullback, and is heading back up towards the zone of interest at 119.8-120.1, which it did not reach during the main upward movement. I see no fundamental or technical reasons for the correction to end and for growth beyond 121K. I expect a rebound from the resistance zone towards 115-114K. However, in the medium term, I expect the market to attempt to close half or all of the gap between 112K and 114.8K, thereby expanding the key trading range.
Resistance levels: 119.77, 120.1K, 120.8K
Support levels: 117.4, 116.37, 115.68
Technically, a false breakout (liquidity capture) of key resistance and price consolidation in the selling zone could trigger bearish pressure on the market, which in turn would lead to a correction.
