Bitcoin (BTC) is showing signs of strength after bouncing from key support levels and closing back above a historically important resistance line. The current recovery follows a sharp move down at the end of the previous week, with traders now watching whether BTC can reclaim higher levels and extend the move toward $117,000.
Recent price action shows the market reacting at well-established technical zones. Analysts are tracking these levels as bitcoin continues to trade within a defined range.
Price Reclaims Support, Tests Resistance
Bitcoin rebounded from a higher low near $110,000 (on most exchanges), a level marked in purple on the daily chart shared by Rekt Capital. This same line was the base for previous reversals. BTC has now closed a daily candle above ~$114,300, which has historically served as a strong resistance. In the last five cases where bitcoin closed above this level after bouncing from the higher low, it moved toward $117,300.
#BTC
Bitcoin has rebounded from the ver
We współpracy z: https://cryptopotato.com/btc-holds-key-support-how-high-can-bitcoin-go-next/
