Aug 6, 2025
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Bitcoin Shows Signs of Recovery After $115,000 Resistance Rejection
Bitcoin is showing signs of recovery after a decline from the $115,000 resistance level. Key points include:
- Recent market volatility was followed by a sharp pullback.
- Technical analysis indicates a potential rebound as buyers defend key price levels.
- On the 1-hour chart, Bitcoin is forming a higher low, suggesting bullish momentum.
- An inverse head and shoulders pattern may be developing, with a neckline at $115,300.
- A break above this level could lead to a move towards $118,000.
- Current price is approximately $114,315, with a market cap over $2.2 trillion.
- Recent trading volume exceeds $58.8 billion.
