Bitcoin (BTC) has surged to a fresh high of $113,346.06 on the Binance exchange, marking a strong 3.81% intraday gain. The sharp rally comes amid heightened trading activity, with over 20,000 BTC traded in the last 24 hours, translating to a volume of approximately $2.27 billion in USDT.
The 1-hour chart reflects a powerful bullish breakout, with BTC price spiking past key resistance levels. The moving averages are in a perfect bullish alignment, as the shorter-term EMA (orange) has crossed above the longer-term EMA (blue), indicating strong upward momentum.
MACD indicators show a recent bullish crossover, further validating the breakout. The histogram has flipped green, suggesting growing buying pressure. Volume has also significantly increased, supporting the move with solid participation from traders.
The price currently hovers just below the 24-hour high of $113,459. With the current momentum, BTC appears poised to challenge new resistance levels near $114,000 and potentially beyond, especially if the bullish sentiment continues.
Analysts believe this breakout is fueled by whale accumulation and institutional long positions, as mentioned in the “Bitcoin Whale Profits from Significant Long Position” alert shown on the Binance interface.
Trade Strategy:
Entry Point: Ideal re-entry near support around $111,300–$111,800 if a pullback occurs.
Take Profit: Short-term targets at $114,500 and $116,000.
Stop Loss: Consider placing a stop loss around $110,000 to manage risk.
Conclusion:
Bitcoin's strong performance today suggests the bulls are firmly in control. Traders should watch for follow-through volume and potential resistance zones, while also managing risk as volatility remains high.
