Bitcoin Consolidates Below $113,000 Amid Reduced Leverage and Risk
- Bitcoin’s price fell below the $113,000 level as traders scaled back leverage and speculative bets.
- A breakout above $113,650 could confirm an inverse head-and-shoulders pattern, potentially pushing BTC towards $120,000.
- Price momentum has improved slightly from −8% to −5% over the past week, indicating easing bearish pressure.
- The Integrated Market Index has stabilized near neutral levels of 45-50, reflecting reduced aggressive trading.
- Momentum signals show the relative strength index (RSI) has stabilized above the critical level of 50.
As Bitcoin enters a balance phase with neither buyers nor sellers in control, historical trends suggest that such periods can lead to stronger uptrends. With one-third of the current halving cycle completed, Bitcoin appears to be forming a base similar to previous consolidation phases.
A confirmed breakout above $113,650 could unlock a rally towards $120,000 as market conditions stabilize and reduce risks associated with forced liquidations. (Source)
