Bitcoin’s Latest Pullback: Just a Healthy Correction or Something More?

Bitcoin takes another breather—traders wonder if this dip's a buying opportunity or the start of something deeper.

Market Pulse: Volatility Strikes Again

Bitcoin's price action keeps everyone guessing. Another drop shakes out weak hands while seasoned holders eye the charts. No panic—just the usual crypto rollercoaster playing out.

Technical Check: Support Levels in Focus

Key levels get tested as selling pressure mounts. Bulls watch for signs of stabilization while bears sharpen their claws. Classic tug-of-war between fear and greed.

Macro View: Same Old Story

Traditional finance pundits clutch their pearls—again. Meanwhile, crypto natives stack sats and shrug. Wall Street still doesn't get that volatility isn't a bug, it's a feature.

Outlook: Dip or Disaster?

History says buy when there's blood in the streets—even if it's digital. This might just be another shakeout before the next leg up. Or not. That's the thrill of trading an asset class where 'stable' is considered an insult.

Remember: Corrections hurt less when you're not overleveraged. But what do we know—we're just watching from the sidelines like everyone else.

Bitcoin Price Dips Again

Bitcoin price started a fresh upward wave above the $116,500 zone. BTC managed to climb above the $116,800 and $117,500 resistance levels before the bears appeared.

A high was formed at $117,920 and the price started a fresh decline. There was a MOVE below the $116,500 and $115,500 levels. The decline gained pace below the $115,000 level. A low was formed at $114,237 and the price is now consolidating losses below the 23.6% Fib retracement level of the recent decline from the $117,920 swing high to the $114,237 low.

Bitcoin is now trading below $115,500 and the 100 hourly Simple moving average. Besides, there is a bearish trend line forming with resistance at $115,200 on the hourly chart of the BTC/USD pair.

Immediate resistance on the upside is NEAR the $115,000 level. The first key resistance is near the $115,250 level. The next resistance could be $116,000 or the 50% Fib retracement level of the recent decline from the $117,920 swing high to the $114,237 low.

A close above the $116,000 resistance might send the price further higher. In the stated case, the price could rise and test the $116,500 resistance level. Any more gains might send the price toward the $116,800 level. The next barrier for the bulls could be $117,250.

More Losses In BTC?

If Bitcoin fails to rise above the $116,000 resistance zone, it could start a fresh decline. Immediate support is near the $114,250 level. The first major support is near the $113,500 level.

The next support is now near the $113,250 zone. Any more losses might send the price toward the $112,500 support in the near term. The main support sits at $110,500, below which BTC might decline heavily.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $114,250, followed by $113,250.

Major Resistance Levels – $115,000 and $116,000.