Bitcoin (BTC) Technical Outlook – Bulls Eye Breakout from Key Resistance Zone

Bitcoin (BTC) is showing renewed strength after rebounding from the $104,400 support zone, aligned with the 0.236 Fibonacci retracement level. The price is now hovering near $111,600, testing the 20 EMA ($111,758) and the 0.5 Fibonacci level ($112,291) — a crucial area that could decide BTC’s next major move.

The short-term trend is improving, but BTC still faces a strong resistance cluster between $111,700–$113,300, formed by the 20, 50, and 100 EMAs. A decisive close above this zone would signal the start of a bullish reversal, targeting $115,600 (0.618 Fib) and $120,300 (0.786 Fib) next.

On the downside, immediate support lies at $108,980 (0.382 Fib) and $104,882, with the 200 EMA ($108,145) offering additional defense. Holding above these levels keeps BTC in a constructive recovery phase.

The RSI (48.28) is gradually climbing from bearish territory, suggesting momentum is shifting toward the bulls.

📊 Summary:

Trend: Neutral to Bullish (Recovery in progress)

Support: $108,980 / $104,882 / $104,000

Resistance: $112,291 / $115,603 / $120,318

Outlook: BTC needs to break and hold above $113,000 to confirm bullish continuation toward $115K–$120K. A failure could trigger a short-term pullback to $108K–$105K, but overall sentiment remains cautiously optimistic.

$BTC

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