Bitcoin is still holding above the $115K–$116.7K support zone, keeping bullish hopes alive if daily candles stay strong above it.
A pullback to $111.8K could happen if support breaks, but bulls may still launch the next move higher from that point.
Liquidity is building near $120K, turning it into a magnet zone where BTC might break out if buyers push past $116.7K soon.
.Bitcoin is holding firm above the $115K zone this week, where bulls are defending key support. Traders now wonder when, where, and how the next breakout toward $120K or new highs could unfold.
Support Zone Holding Strong
Bitcoin's price action shows resilience after a dip toward the lower end of the red demand zone. This area, marked between $111,834 and $115,228, has been tested several times with no confirmed breakdown. Each time price touches this region, long lower wicks emerge, signaling strong buyer interest.
As long as price holds that support, the target remains a move toward all-time highs. The recent wick below the zone may have simply filled the CME gap, without altering the broader bullish trend.
Liquidity Clusters Around $120K
Besides price holding firm, market heatmaps reveal intense liquidity stacked around $120,000. CoinGlass data shows clusters of limit sell orders forming a wall of resistance there. Each attempt to break above $117,000 has been rejected so far.
Upside Scenario Still in Play
Despite minor declines, Bitcoin maintains a bullish structure of higher lows and tight consolidation. The current pattern favors continuation. A daily close above $116,683 would signal strength and potentially invite momentum traders back into the market.
As Crypto Candy mentioned, if BTC fails to hold support, it could drop toward $111.8K before bouncing. However, strong absorption at lower levels continues to favor the bulls. For now, all eyes remain on $120,000 as the next critical resistance to watch.
This level might act as a staging ground for the next leg up if BTC dips further. A drop to $111.8K wouldn't necessarily signal weakness—just a deeper pullback before buyers regain control.
Buyers have previously defended this region, and a clean rebound could trigger a strong rally toward resistance.
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