🚀 Bitcoin Bulls Regain Momentum – Short-Term Rally Ahead?
Bitcoin $BTC is showing signs of strength again, staging a recovery above the $114,200 level and pushing toward key resistance zones. After rebounding from the $112,000 support, BTC has been gradually climbing, now holding steady above the 100-hour SMA and signaling potential for a short-term breakout.
🔹 Recovery in Motion
BTC/USD managed to break above a bearish trend line near $114,300 on the hourly chart. The move also cleared the $113,500 and $114,200 resistance zones, sparking hopes of a continued push higher. However, the rally paused just short of the crucial $115,500 resistance — a level where sellers have re-entered.
The price is currently testing the 50% Fibonacci retracement of the $118,918 swing high to the $112,000 low. A strong close above $115,500 could open the door to further upside.
🔼 Key Resistance Levels
$115,000 – Immediate resistance
$115,500 – First major barrier
$116,250 – Next key resistance (61.8% Fib level)
$117,500 – Potential breakout target
$118,000+ – Momentum zone
$120,000 – Psychological level
A decisive move above $116,250 could fuel a rally toward $117,500 and even $118,000. If bulls maintain control, BTC could aim for the $120K mark.
🔻 What If BTC Fails to Break $115,500?
Failure to break the $115,500 barrier may lead to a short-term pullback:
$114,200 – Immediate support
$113,500 – First major support
$112,000 – Strong support zone
A break below $112,000 could send BTC toward $110,500, and possibly even $108,500.
📊 Technical Indicators
MACD (Hourly): Losing strength in the bearish zone
RSI (Hourly): Holding above 50 – favoring bullish bias
✅ Conclusion
Bitcoin is at a pivotal point. A breakout above $115,500 could confirm bullish continuation and spark a short-term rally. However, failure at this level may invite another leg down. Keep an eye on price action around resistance zones.