Bitcoin is hovering above two major support levels — $118,163 and $116,934 — that traders are closely watching. These price points represent zones where buying pressure has historically been strong enough to halt further declines. Maintaining these levels could provide the stability needed for the market to continue its upward momentum.
The Significance of $118,163 and $116,934
The first support at $118,163 is currently acting as Bitcoin’s primary defense line. If price stays above this level, it suggests bulls remain in control. The second support at $116,934 is a deeper cushion, potentially catching the price if the first support breaks. In both cases, these supports are not random — they are based on historical trading activity, order book data, and technical chart patterns that point to strong buyer interest.
What This Means for Traders
For short-term traders, these support zones are critical for setting stop-loss levels and planning entry points. Long-term investors may see this as an opportunity to add to positions if Bitcoin revisits these supports without breaking lower. A rebound from either level could trigger fresh bullish momentum, while a decisive break could open the door for a deeper correction.
