Bitcoin Price Surges Above $114,000, Faces $115,000 Resistance
Bitcoin is experiencing a recovery, trading above $114,000 and facing resistance near $115,000.
- BTC began its recovery wave above the $113,500 mark.
- The price surpassed the $114,000 level and the 100 hourly Simple Moving Average.
- A key bearish trend line was breached at $112,200 on the BTC/USD hourly chart.
- Potential continuation if the $115,000 resistance is cleared.
Technical Insights
- Immediate resistance levels: $114,750 and $115,000.
- Subsequent resistances: $115,500, $116,500, and $117,500.
- If resistance at $115,000 holds, potential decline with support at $113,500 and $112,500.
- Main support: $110,500, critical for short-term recovery.
Technical indicators suggest bullish momentum:
- Hourly MACD is in the bullish zone.
- Hourly RSI is above 50.