$BTC market update.CRYPTOCAP:BTC Market Update
CRYPTOCAP:BTC is currently ranging between $120K and $106K.
If you didn’t enter near the bottom of this range, be cautious—there’s still a strong chance of rejection since the 1W consolidation isn’t finished yet.
The recent liquidity grab was expected, and with the CME gap nearly filled, the market is now at a decision point.
What’s next?
We’re sitting in the middle of the range:
If rejected, we could revisit the bottom around $106K, which would offer a stronger entry for the next leg up.
If momentum continues, the next target is the top of the channel at $120K.
The rejection scenario looks more likely since this push wasn’t impulsive—it was news-driven and unfolded slowly over a week, suggesting market makers may be buying to trigger short liquidations.
Indicators:
RSI → Each time it overheats, a cooldown follows. A better entry may be lower since this move seems topped.
MACD → Still ranging, offering clear buy/sell zones.
Stochastic RSI → Pointing toward a cooldown, reinforcing the rejection case.
Bearish divergence → If it is forming now, it would validate this idea further. Keep and eye on it.
Always remember: DYOR (Do Your Own Research).
