The BTC exchange rate is executing a bounce scenario, trying to hold above $113,000. The potential low mark on the 18-hour timeframe, which we mentioned at night, is being executed. But this is still, for now, a bounce, albeit a more confident one.

A key signal that growth may continue - the price has transitioned to a stable uptrend on the 3-hour timeframe. Basic targets: $113,361, $114,547, $115,733.

The price is in the process of executing a Wedge with a target of $116,161 and so far - this is the maximum bounce that we are expecting. Although the execution of the Wedge is in progress, the rise since August 26 has been in the format of a 'Bearish wedge'. The execution of which, considering the stable downtrends across a number of important timeframes from the 4-hour and higher, is more than a realistic scenario.

Regarding the fact that the price gives at least a chance for a full reversal, we personally will not be able to speak about it until a stable uptrend on the 6-hour timeframe. However, at the moment, the asset has not been able to transition to an uptrend even on the 4-hour timeframe. Although we would like to note separately that on the 4-hour timeframe, three potential high marks have been broken. This is a sign of buyer strength.

BUT locally it is worth paying attention to the fact that after the overnight drop (the price did not reach our buy level of $110,312), the asset is now again showing marks of a potential high on the hourly timeframe.

Locally, due to the high marks on the hourly and 30-minute timeframes, we expect a correction and want to see its strength.

A signal to close longs for us right now could be a strong signal from the potential high marks on the hourly and higher timeframes. But so far, there are none. The growth is happening with healthy corrections, and if in the end, the starting local correction is defended by buyers in the area of $112,000 - we will expect another attempt to rise.

According to EMA 50 and 200, we are currently in the range from the current price to $114,990 - a whole series of moving averages. First of all, this includes:

- EMA 50 on the daily timeframe is at $114,402.

- EMA 50 on the 12-hour timeframe is at $114,877.

- EMA 50 on the 18-hour timeframe is at $114,950.

This is currently - key resistances by EMA.

In a separate chart, we always show important horizontal levels. The nearest important resistance is at $113,611, the nearest important support is at $111,272. Between these levels is emptiness and possible impulse movements. For the bulls, to have a chance for a reversal, it is extremely important to hold above $117,956.

We also remind you that in a more extensive picture, the price is trying to break the trend line from the ATH of August 14 today. And we are still inclined to consider the scenario of a decline from the ATH as a 'Bullish wedge', which had a false downward breakout during the Sunday dump. In this case, the full target of the figure will be around $122,700. But for now, this is a scenario that, considering the picture on higher timeframes (including the high marks on the weekly timeframe for TOTAL / TOTAL2 / TOTAL3), can be called 'too optimistic'.