$BTC Bitcoin (BTC/USDT) is currently trading at $119,250.89, up 2.20% in the last 24 hours. The short-term chart shows a recent bounce from the $116,500 support zone, with price testing the $119,500 resistance level. Trading volume over the past day has been moderate, suggesting cautious buying interest rather than a full bullish breakout.

From the mid-July peak of $123,218, BTC saw a correction down to $107,245, followed by a recovery pattern with higher lows, indicating gradual bullish momentum. However, the price remains below the July high, so the current move is more of a rebound than a confirmed uptrend.

Short-term outlook:

If BTC can close above $119,500 with strong volume, it could retest $120,500 and potentially challenge the $123,000 resistance zone. Failure to break above may lead to a pullback toward $116,500 or even $113,500.

Trend bias: Neutral-to-bullish in the short term, but confirmation of an uptrend requires breaking and holding above $123,000.