$BTC The daily Bitcoin chart shows the market in short-term consolidation following a downward breakout from a descending triangle.

The price structure indicates a lower high at $124,517 and a lower low at $108,717, placing current price levels around $113,000.

A potential bounce is forming with increased volumes at recent lows, indicating possible accumulation.

Immediate support is at $108,500, and resistance is at $117,500 and $124,500. A breakout above $117,500 on strong volumes could serve as confirmation of a bullish trend continuation, while a breakout below $108,000 would likely nullify this setup.

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The 4-hour Bitcoin chart illustrates a notable trend change from bearish to bullish, characterized by higher highs and lows following a drop to $108,700.

Momentum indicators show a subtle reversal pattern supported by increasing green volume bars. Bitcoin is currently trading in the range of $113,000–$113,500, a key resistance zone.

A sustained breakout above this range with volume confirmation will strengthen the bullish momentum. Otherwise, a failed attempt here combined with increased selling pressure could bring prices back to the $110,000 level, requiring cautious trade management.

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On the 1-hour Bitcoin chart, Bitcoin is in a clear intraday uptrend, moving from a base around $110,381 to a recent high of $113,365.

Price action is spiraling in a pattern resembling a flag, typically indicating an impending breakout or drop.

Decreasing volume combined with this consolidation indicates traders' indecision, awaiting a catalyst.

A move above $113,500 could quickly lead to long positions with targets in the $114,000–$114,500 area. However, if the price falls below $111,500, stop-loss triggers should be considered for intraday trading.

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Bullish Verdict:

If Bitcoin decisively breaks above the resistance level of $113,500 on strong volumes and holds this move, bullish momentum could accelerate towards resistance levels of $117,500 and $124,500.

The presence of higher lows, the recovery of the 4-hour trend, and support from long-term moving averages all strengthen the arguments for continued upward movement in the short and medium term.

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Bearish Verdict:

If Bitcoin fails to overcome the resistance at $113,500 and instead falls below the support zone of $111,500–$110,000, bearish pressure may resume.

The presence of numerous short-term sell signals on moving averages and the lack of strong conviction from oscillators warns that further declines to the $108,000 level remain a real threat.