Bitcoin rebounds from 115.7K to test 119.6K resistance
Buyers dominate while above the 118K support level
Breakout over 119.6K may trigger rapid upside toward 120.8K
After finding a strong bounce at $115.7K, Bitcoin price at 119K is once again knocking on the door of a key resistance zone. The crypto market is showing renewed bullish sentiment, with aggressive buying activity seen on the footprint chart and short liquidations flashing above $119.6K.
Entering the Resistance Zone
The current price structure shows Bitcoin steadily climbing higher, creating a series of higher highs and higher lows. With a SuperTrend indicator flashing bright green, bullish momentum is gaining strength. However, Bitcoin is now entering a dense resistance area between $119.2K and $119.6K, where stacked sell orders await. This is a crucial decision point.
If price can break above this resistance, especially the $119.6K level, it could trigger a short squeeze — forcing traders who bet against the move to buy back in panic, potentially propelling Bitcoin toward the next resistance at $120.8K or even $122K. This area represents a thin volume pocket, meaning price could move quickly once entered.
Key Levels to Watch
Bitcoin’s immediate support lies between $118.4K and $118K — a bid-heavy area where buyers previously stepped in. Below that, $117.4K and $116K serve as secondary support levels. These zones offer a buffer if the price drops, but losing them could shift momentum back to the bears.
On the upside, $119.6K remains the line in the sand. A clean breakout and hold above this level would confirm buyer strength and open the door to higher targets. Conversely, a failure to hold above $118K could trigger a retracement down to $116K, where the SuperTrend support resides.
Bitcoin Grinding Into 119 K Supply – 120 K Decision Point.
After a clean bounce off 115.7 K, Bitcoin is lifting back into the previous sell zone. Footprint shows aggressive buyers all session, while the right-hand liquidation histogram lights up short stops above 119.6 K.
… https://t.co/MpjTUzsPcR pic.twitter.com/US1VND0qMc
— IT Tech (@IT_Tech_PL) July 16, 2025
What Traders Should Monitor
The market structure is bullish while Bitcoin holds above $118K. Traders are watching closely for either acceptance above $119.6K — which would be a bullish continuation signal — or a drop back below $118K, which could mean the move has exhausted itself. In either case, momentum is building, and the next few hours may set the tone for the upcoming price action.
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