🧱 Bitcoin ($BTC /USDT) is currently walking a tightrope at around $113,691 after recently dipping to a low of $111,920. Although it’s managed a small bounce, the mood feels cautious—not exactly panic, but definitely not full of confidence either. The price is now hovering just below a resistance area near $114,000, struggling to regain momentum.
The recent trend has been choppy and slightly bearish. After peaking near $120,998, BTC started sliding, breaking below its 25-day and 7-day moving averages, which have now flipped into resistance zones. MA(25) sits around $116,322 and the shorter MA(7) at $113,378—very close to the current price. If Bitcoin can close above this short-term average and hold it, that would be the first step toward recovery. Otherwise, we may see more sideways grinding or even a retest of the recent low.
One interesting detail: the 99-day MA is still trending upward and lies higher at around $117,510. That shows the medium-term structure is still intact despite this dip. So while the short-term pressure is down, the broader outlook hasn’t flipped completely bearish yet.
The order book shows that 55.85% of trades are on the bid side, suggesting buyers are starting to reappear, likely trying to scoop BTC near support. But sellers aren’t gone either—volume is muted, and candles show hesitation. It’s not the kind of bounce that screams bullish reversal; it’s more of a tentative “let’s wait and see.”
Looking forward, Bitcoin needs to reclaim and hold above $114,500 to turn short-term momentum back in its favor. If that happens, it could quickly climb back toward $116,500–$118,000, where stronger resistance lies. But if the price drops below $111,920 again with volume, it may trigger another wave of selling that could push it toward the $109,000–$110,000 zone.
Right now, Bitcoin is at a crossroads. The big drop seems to be losing steam, and a base might be forming—but it’s fragile. Traders should keep a close eye on how it handles the $114k mark. This isn’t a breakout moment yet, but it could become one if bulls step up soon.
