Bitcoin Pushes Higher 🔥 Can Bulls Break the Barrier?
Bitcoin rallied over $114,200. BTC is consolidating gains and faces $114,750 challenges.
Bitcoin resumed rebound over $114,000.
The price is over $114,000 and the 100-hour SMA.
The hourly BTC/USD chart shows a short-term bullish trend line with support at $113,300.
The pair may rise if it breaks $114,750.
Bitcoin Price Sees Upturn
Bitcoin recovered from $112,000 after staying above it. The recent surge began with BTC over $113,200 barrier.
Bulls pushed the price beyond $114,000 and $114,200. Bulls broke $114,500. After hitting $114,770, the price is stabilizing. Below the 23.6% Fib retracement level of the rise from $108,677 swing low to $114,771 high, prices fell somewhat.
Bitcoin is over $114,200 and the 100-hour SMA. The hourly BTC/USD chart shows a short-term bullish trend line with support at $113,300.
Near $114,750 is immediate upward barrier. First major resistance is at $115,000. The next hurdle may be $115,500. A close above $115,500 barrier might boost prices. The price may increase to $116,500 resistance. More increases might push the price toward $117,500. Bulls may face $118,00 next.
Another BTC Drop?
Bitcoin may fall again if it fails to break $114,750. Near $113,300 and the trend line is immediate support. First significant support is around $112,200.
Around $111,750 is the next support. Losses might push the price beyond $111,000 soon. BTC may struggle to rebound below $110,500, its key 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: $113,300, $112,200.
Major Resistance Levels: $114,750, $115,000.
