Description
Bitcoin is currently showing signs of strength after rebounding from the recent support zone. The price has formed a higher low structure on the 1H timeframe, suggesting potential continuation to the upside.
Entry Zone: Around the $113,000 level, where buyers are stepping back in.
Immediate Support: $112,300 – $112,500 (holding above this confirms bullish momentum).
Upside Target: First resistance stands near $114,500, with an extended target toward $117,400 if momentum sustains.
Invalidation Level: A breakdown below $112,300 would weaken this bullish outlook.
Note: Market sentiment favors the bulls as long as price holds above the support channel. A breakout above $114,500 could open the path toward higher resistance levels.
Bitcoin is showing renewed bullish momentum after holding above the $112,300 support zone. A higher low formation on the 1H chart suggests strength from buyers, with potential continuation toward the $114,500 resistance and possibly $117,400 if momentum sustains.
This analysis is for educational purposes only and should not be taken as financial advice. Always trade with discipline and apply risk management.
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