Bitcoin is trading sideways just above its 20-day SMA at $117,176, reflecting a period of consolidation. The Bollinger Bands are narrowing, suggesting a potential breakout soon. RSI sits at 60.62, showing neither extreme overbought nor oversold conditions.
On the upside, BTC faces a tough resistance at $123,680, a level it failed to breach earlier this month. If bulls can push above this, the next leg could test $127,000. Conversely, a break below the support at $111,964 could expose BTC to $108,000.
Next Week Target Range: $115,000 – $123,680
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