The market is gradually stabilizing after recent volatility, and Bitcoin is once again showing early signs of strength. Traders are keeping a close eye on the price as it looks to turn higher and confirm momentum on lower time frames. In this short update, we will detail the key support and resistance levels, discuss what could be the trigger for the next BTC breakout, and share a little personal trading insight from the past few days.
Bitcoin price overview
Bitcoin is recovering after falling below the $108,000 level last week. Buyers intervened around $106,700, forming a solid rebound structure. Since then, BTC has rallied above $113,500 and regained its 100-hour moving average. This is a constructive sign for a continuation of the rally.
At the moment, BTC is trading between $114,000 and $115,000. On the lower timeframe chart, there is an uptrend line forming around $113,300. This trendline is acting as a support base during the current uptrend.
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Key resistance levels to break
Immediate resistance lies near the $115,500 level. This has been tested many times and remains a major hurdle as no closing price above this has been confirmed. A clean break and hold above $115,500 will be the first trigger for a BTC breakout setup.
If that breakout occurs, the next rising level is:
- $116,200
- $117,000
- $118,000
If momentum accelerates above $117,000, the price could head towards $118,800 in the near term, especially if volume increases.
Related: Why does this cycle feel weird?
Notable support zones
If Bitcoin fails to break out further, the following support tiers should be monitored.
Immediate support: $114,000
Secondary Support: $113,500 and the uptrend line
More support: $111,000 to $110,500
Major structural support: $108,500
The bullish short-term setup will weaken if the price closes below the $113,300 trendline. If this happens, the support at $111,000 and $108,500 will likely be revisited.
technical indicators
The hourly MACD remains in positive territory, suggesting continued bullish pressure.
The RSI is currently above 50, indicating that the market still has upward momentum.
As long as the RSI is above 50 and the price is above the trend line, the bulls have a reasonable advantage.
Personal transaction memo
During the recent sell-off, I did not actively trade as I was traveling and my internet connection was spotty. Even if you’re watching the charts move, you don’t want to be in a position that you can’t actively manage. Now that I have a decent screen and stable connection back, I’m waiting for the next clean setup rather than forcing a trade. Patience is also part of the game, especially when volatility fades and markets fluctuate.
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Conclusion: Is a BTC breakout on the horizon?
Bitcoin is in a decision phase. A confirmed move above $115,500 could open the door for a breakout above $116,200. However, failure at this level increases the likelihood of a return to the support below $113,500. For now, the strategy is simple. Watch for a reaction near $115,500 and an uptrend line at $113,300. Give direction to the price and set your position accordingly.
If you like this blog, be sure to check out some of the altcoins I have my eye on.
As always, don’t forget to claim the following bonuses at Bybit. See you next time!
