Bitcoin Consolidates Above $113,500 with Potential Rise Beyond $115,750

Bitcoin is consolidating above $113,500. A clear move above the $115,750 resistance could lead to further gains.

Bitcoin moved above the $114,000 resistance, trading over $114,200 and above the 100 hourly SMA.
A bullish trend line supports BTC at $113,900 on the hourly chart.
If BTC surpasses the $115,750 resistance, it may reach $116,300 and potentially $117,500 or $118,000.

Bitcoin Price Movement

BTC increased from $112,500, breaking past $113,500, reaching over $115,000, and spiking above $116,000. It is now above the 23.6% Fib retracement level of the recent wave from $106,718 to $116,309.

Bitcoin Price

Immediate resistance levels are $115,000, $115,500, and $115,750. Surpassing $115,750 might propel the price toward $116,300 and $117,500.

Potential Pullback

If BTC doesn't break $115,500, it may decline with support at $114,000 and major support at $113,500.
Further drops could see support at $111,000 and $110,500, with main support at $108,500.

Technical Indicators:

Hourly MACD: Bullish momentum increasing.
Hourly RSI: Above 50, indicating strength.
Support Levels: $114,000 and $113,500.
Resistance Levels: $115,500 and $116,500.