Breakout Loading or Storm Brewing?

From $123,200, bitcoin price fell. BTC may find offers at $115,500 after falling below $120,000.
Bitcoin fell from its new record high of $123,200.
Price is below $120,000 and 100 hourly Simple moving average.
BTC/USD broke above a negative trend line with resistance around $117,300 on the hourly chart.
The pair may rise again if it breaks $120,000 resistance.
New ATH Bitcoin Price Corrects
Bitcoin price rose after breaking $118,500 barrier. BTC accelerated beyond $120,000 and $122,000 barrier.
Bulls even pushed the pair beyond $123,000. The price is correcting after hitting a record $123,140. It fell below the 23.6% Fib retracement line of the $108,636 swing low to $123,140 high.
Bitcoin has fallen below $120,500 and the 100-hour SMA. The price is sustaining the 50% Fib level of the rise from $108,636 swing low to $123,140 high.
BTC/USD broke above a negative trend line with resistance around $117,300 on the hourly chart. Close to $118,500 is immediate upward barrier. Near $120,000 is the first major resistance. The next hurdle may be $122,000.
A closing above $122,000 barrier might boost prices. If the price rises, it may challenge $123,200 barrier. More increases might push the price beyond $125,000. The goal may be $130,000.
More BTC losses?
Bitcoin may fall if it fails to break $120,000. Near $115,850 is immediate support. Near $115,500 is the first big support.
Around $114,150 is the next support. More losses might push the price toward $112,500. BTC may go below $110,500, the primary support.
The technical indications
Hourly MACD - MACD is falling in the negative zone.
Relative Strength Index hourly BTC/USD RSI is below 50.
Major Support Levels: $115,500, $114,150.
Major resistance levels: $120,000 and $122,000.
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