$BTC BTC/USDT

The BTC/USDT price has shown a short-term recovery, reaching $116,947.01 with a +1.56% gain over the past 24 hours. The recent bottom was around $112,166, followed by a small rally, forming a short-term higher low – a potential signal of reversal.

The candlestick chart shows a recovery after several red candles, indicating that buyers are gradually regaining control. However, BTC is still trading below the recent peak of $123,218, which acts as a key resistance level.

Volume data also indicates an increase in buying activity, but it’s not yet strong enough to confirm a full bullish trend. The 60-period Moving Average (MA60) is still slightly above the current price, suggesting there’s still some overhead pressure.

Prediction:

If BTC can break above $117,500 with strong volume, we could see a push toward the $120,000 - $122,000 range. However, if it fails to maintain support above $115,000, a retest of the $112,000 level is likely.

Short-term trend: Neutral to mildly bullish

Medium-term trend: Consolidating

Key resistance: $117,500 / $120,000

Key support: $115,000 / $112,000