Bitcoin Recovers Key Support Level
Bitcoin has rebounded to $110,697, recovering nearly 2% from its previous close at $108,676 as traders regain confidence following a week of consolidation. The move reestablishes BTC above its 200-day exponential moving average (EMA) near $109,000, a key structural threshold separating correction from continuation.
Technical Analysis Signals Renewed Strength
Momentum indicators now lean bullish. On shorter timeframes, the RSI has risen into the upper-50s to high-60s, confirming renewed buying strength. The MACD has crossed upward on the 1-hour and 4-hour charts, while daily readings are flattening near the zero line — often a precursor to a broader trend reversal.
Technically, a W-bottom pattern has formed between $103K and $111K, with neckline resistance located near $111.2K–$111.5K. A decisive breakout above this zone could unlock a continuation move toward $114K–$115K, where prior resistance and moving averages converge. Support remains layered between $108K and $106K, providing a stable base for consolidation if momentum cools.
Market Sentiment and Outlook
Volatility remains moderate, suggesting traders are accumulating rather than chasing momentum. The broader macro picture remains constructive, with Bitcoin holding its multi-month uptrend and volume flows showing early signs of renewed institutional participation.
Overall, the setup favors cautious optimism. If BTC can close above $111.5K with sustained volume, it would mark a structural reversal within the short-term cycle and re-ignite the broader bullish trajectory.