Bitcoin Seeks Direction

🟡After dipping below $112,000, Bitcoin is consolidating around $114,400, encountering resistance near the $116,000 level. The upward momentum is slowing, as confirmed by technical indicators: narrowing Bollinger Bands, a bearish Supertrend signal, and a neutral RSI.
🟡Trading volume and open interest are both declining, suggesting growing caution among traders. Without a breakout above $116,200, the price may continue downward, with a breach of $112,500 potentially opening the way to $110,000 or lower. The battle for control remains tense.