Bitcoin is struggling to recover after a sharp decline, as selling pressure at the resistance zone of $115,000–$115,500 remains heavy. The price is currently capped below the 100-hour SMA, with a risk of further decline if it does not surpass this level.

Update on Developments

  • BTC bounced from the support zone of $112,000, recovering above $114,000.

  • The upward momentum was halted at the Fib 50% level ($115,500) of the decline from $118,918 to $112,000.

  • MACD remains negative, RSI below 50 – indicating that selling pressure prevails.


Important Technical Levels

  • Resistance: $114,000 → $115,000 → $115,500

  • If it surpasses $115,500, BTC could target $116,500 – $118,000, even $120,000 if buying pressure increases.

  • Support: $113,200 → $112,500 → $112,000

  • If it breaks $112,000, the price could drop sharply to $110,500 – $108,500.

Conclusion

Bitcoin is trapped in a narrow price range. A breakout above $115,500 will open up room for upward movement, while failure in this area could trigger a new sharp decline. Investors need to closely monitor price action in the $112,500–$115,500 range.

#bitcoin #BTC #Trading #USDT #CRYPTO