Key Insights:
- Bitcoin tests $113.4K resistance after 4-day rally; next target if cleared is $115.8K.
- Price rejected at 4H 200MA/EMA again, signaling weak short-term momentum under pressure.
- $107K remains a key support zone as traders wait for a confirmed breakout or reversal.
Bitcoin (BTC) was trading at $112,361, up 0.72% in the past 24 hours and 4.40% over the last seven days. The move brings BTC closer to a key resistance level at $113,400, a zone traders are watching for a possible breakout toward $115,800.
Current price action shows BTC consolidating just below resistance, with buyers stepping in across the last several sessions. Market watchers suggest that a confirmed break above $113,400 may open the way for a broader move toward higher targets, but until then, this area remains a strong barrier.
4H 200MA/EMA Acts as Ongoing Resistance
On the 4-hour chart, BTC is once again testing the 200-period Moving Average (MA) and Exponential Moving Average (EMA). These two trend lines have rejected price in two previous attempts, and the latest effort was no exception. BTC pushed into the zone but failed to hold above it, pulling back shortly after.
Daan Crypto Trades noted,
Source: Daan Crypto Trades/XThis continued rejection suggests that BTC is struggling to regain short- to mid-term trend strength. The 4H trend remains resistance until a clear breakout occurs. Without that, price may stay range-bound or retrace to lower supports.
$107K Support Remains a Key Level
BTC recently returned to the $107,000 support zone, which also aligns with the Daily 200MA/EMA area. This zone has provided support on multiple occasions and remains critical for bulls to hold. Any sustained drop below this range could expose BTC to a deeper correction.
Daan Crypto Trades added,
Source: Daan Crypto Trades/XTraders are watching this level closely as a potential pivot point for either recovery or further decline.
Traders Focused on $113.4K Breakout for Direction
Market structure continues to show mixed signals. Price is climbing, but momentum has been capped at key moving averages. A confirmed break above $113,400 would mark a shift and could trigger a move toward $115,800. However, failure at this level could lead to renewed selling pressure.
LennaertSnyder noted,
The next few sessions will be important in determining whether BTC can maintain upward momentum or faces another rejection.
| DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Source: https://coincu.com/analysis/btc-eyes-115-8kbut-can-it-break-113-4/
