In the recent Bitcoin chart, the price is showing signs of recovery after a short-term correction and is currently consolidating around $123,900. The overall structure in the 1-hour timeframe indicates a temporary balance between buyers and sellers, while the key supply and demand zones will determine the next move.
🔴 Supply Zone (Resistance)
The area between $124,400 – $125,200 (highlighted in red) acts as a strong resistance zone.
Previously, this region triggered significant selling pressure that pushed the price downward. If Bitcoin fails to hold above this zone, a short-term correction is likely.
🟢 Demand Zone (Support)
The area between $121,600 – $122,200 (highlighted in green) serves as a key demand zone.
This zone has shown strong buying activity in the past and can act as a short-term local bottom. As long as the price remains above this support, the short-term bullish scenario stays valid.
⚙️ Current Market Structure
At the moment, Bitcoin is consolidating between these two zones. The presence of multiple candles with long wicks reflects market indecision and lower trading volume.
If BTC breaks above the $125,200 resistance with solid momentum, the next upside targets could be $126,000 – $126,500.
However, if the $121,600 support fails to hold, the price may drop toward $120,000 or lower.
🔍 Summary
- The medium-term trend remains bullish, though the market is in a short-term consolidation phase.
- A confirmed breakout above $125,200 could trigger fresh buying interest.
- Losing the $121,600 support level would signal a potential shift to a bearish structure.
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