$BTC If bitcoin sustains a close above $117,000 on strong volume, it will likely confirm a bullish continuation, with price targets extending toward $118,500 and potentially $120,000. Higher lows, improving volume profiles, and favorable long-term moving averages support the case for upward momentum.
Should bitcoin face rejection at the $117,000 resistance and close below $114,500, a retracement to $112,000 or even $110,000 is likely. Volume inconsistencies and the possibility of a lower high formation on the daily chart suggest the rally could be a bull trap in disguise.
