$BTC /USDT: WILL THE BULLS PUSH HIGHER OR PAUSE AT RESISTANCE?
Bitcoin (BTC) is currently trading at $116,735.99, showing a modest +0.34% increase in the last 24 hours. After bouncing from the intraday low of $115,632.31, BTC surged towards $117,630, marking the 24-hour high, before pulling back slightly.
On the chart, BTC has printed a solid recovery from the dip earlier in the day, forming a higher low structure and maintaining an upward trajectory. The price is now hovering just below the MA60 (116,799), which could act as a short-term resistance.
Key Observations:
Strong Support Zone: The area around $115,600 held well, suggesting solid demand at lower levels.
Resistance in Sight: BTC needs a firm breakout above $116,800–117,000 to confirm bullish continuation.
Volume Spike: Noticeable volume activity occurred during the recovery, indicating buyer interest.
MA Cross Check: Short-term MAs (MA5 and MA10) are curving upward, hinting at bullish momentum if sustained.
What’s Next for BTC?
If Bitcoin can break and hold above the $116,800–117,000 resistance zone with increasing volume, it could aim for $118,500 and possibly retest the $120,000 psychological barrier. On the downside, failure to break resistance may lead to another retest of $115,600 support, with further weakness dragging BTC towards $114,000.
Key Levels to Watch:
Support: $115,600 / $114,000
Resistance: $117,000 / $118,500 / $120,000
Conclusion:
BTC is showing early signs of a bullish breakout, but it must reclaim and sustain above resistance with volume confirmation. Traders should watch the $116,800–117,000 zone closely — the next move depends on how Bitcoin behaves here.
Stay alert. Follow the trend. Manage risk.
