Bitcoin Price Surpasses $111,500, Eyes Resistance at $113,200
Bitcoin has reached a new all-time high, trading above $111,500. Currently, it is consolidating and may target $113,200.
- Bitcoin began an upward trend from $108,000.
- Price remains above $108,000 and the 100 hourly Simple Moving Average.
- A bullish trend line is forming with support at $110,000 on the hourly chart.
- The price could gain momentum if it surpasses the $112,000 resistance.
Bitcoin Price Highlights
BTC increased from the $105,000 support, breaking through the $108,000 resistance. The price surged past $110,000 and hit approximately $111,980.
Currently, Bitcoin trades above $109,000 and has formed a base above the 23.6% Fib retracement level of its recent upward movement.
Key resistance levels are near:
- $112,000
- $112,500
- $113,200
A close above $113,200 could lead to further increases toward $115,000 and potentially $118,000.
Potential Support Levels
If Bitcoin does not exceed the $112,000 resistance, it may correct downward. Immediate support levels include:
- $110,000
- $108,200 (50% Fib retracement)
- $107,200
- $106,000
- Major support at $105,000
Technical indicators show a bullish MACD and RSI above 50 for BTC/USD.