As mapped out in the previous analysis, $BTC has now tapped into the demand zone around $112,113.8 to $110,402.4 and is showing signs of a rebound. This bounce was expected—but it’s still early to take a full bullish stance.
What Does This Mean?
A reaction from this zone was necessary, but until we see clear confirmations, this could still be just a relief move inside a bearish structure.
Key Levels to Watch Next:
• $115,991.7: This is the immediate resistance. A confirmed breakout and hold above this level would be the first bullish signal to watch.
• $119,875: This is the most recent major swing high. A good breakout above this would confirm a stronger market structure shift and give more confidence to any long bias.
Until both conditions are met, caution is still warranted. The descending trendline from previous lower highs remains intact, and without a strong breakout, sellers could still step in.
But overall, let’s focus on the bullish trend and see if bulls have enough fuel to break through.
