Bitcoin Price at Crossroads ⚡ – Key Resistance Will Decide the Next Move

Bitcoin price is rising beyond $116,500. BTC may gain momentum if it breaks $117,250 barrier.

Bitcoin rose again beyond $116,200.

The price is below $116,200 and the 100-hour SMA.

On the hourly BTC/USD chart, a positive trend line with support around $115,500 is formed.

If it breaks $117,250, the pair may rise again.
bitcoin price faces major hurdle

Bitcoin began rising beyond $115,500. BTC broke $116,000 and $116,200 barrier.

Bulls pushed price beyond $117,000. A negative decline began once the price reached $117,291. Price fell below $116,800. The price fell below the 50% Fib retracement line of the $114,157 swing low to $117,291 high.

However, bulls were active at $115,000 and the 61.8% Fib retracement line of the current advance from $114,157 swing low to $117,291 high. Bitcoin is over $116,200 and the 100-hour SMA. On the hourly BTC/USD chart, a positive trend line with support around $115,500 is formed.

The $116,950 level represents immediate upward barrier. Near $117,250 is the first major resistance. The next hurdle may be $117,800. A closing over $117,800 barrier might boost prices. The price may soar to $118,500 resistance. More advances might push the price beyond $118,800. Bulls may face $119,250 next.

Another BTC Drop?
Bitcoin may fall again if it fails to break $117,250. Near $116,200 is immediate support. Near $115,500 or the trend line is the first big support.

The next support is at $115,000. More losses might push the price toward $114,500. BTC may go below $112,500, the primary support.

The technical indications

The MACD is rising in the positive zone.

Relative Strength Index hourly BTC/USD RSI is over 50.

Major Support Levels: $115,500 followed by $115,000.

Key Resistance Levels: $116,950, $117,250.

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