Bitcoin at a Key Threshold

🟡Bitcoin is trading around $118,400, struggling to break above the $120,000 resistance level. Despite maintaining a bullish structure and support from the EMAs, the market is showing signs of slowing: oscillators are weakening, volume is declining, and price action is tightening near the upper boundary of an ascending triangle. This reflects growing uncertainty and the potential for a correction.

🟡If BTC fails to break through $120,000 in the coming hours, a pullback to $116,000 or lower is possible. However, increased volatility could work in the bulls’ favor — a successful move above $120,500 would open the door to a rally toward $125,000.