
Gazing upon the splendid daily BTC/USD chart, one can witness a magnificent bullish breakout from a rather dismal $98,240 low, a raucous rise reaching an extravagant $118,839 before hitting the proverbial brakes. This upward gaiety finds its foundation in the bountiful volume of yesteryear, but alas! Recent movements whisper tales of waning momentum, perhaps signaling a distribution phase even as our gallant price action settles comfortably near the peaks. Support has reestablished itself most genteelly between $110,000 and $106,000. Fancy a ‘buy-the-dip’ opportunity at the $110,000 to $112,000 range? It may just require a romantic bullish reversal candle and a voluminous swoon to seal the deal! Profit-seeking creatures, take heed! Near the $118,500 to $119,000 soiree, particularly if bearish reversal patterns decide to crash the party.