Bitcoin is back on traders’ radar after bouncing off a strong support level near $102,500. Chart analysis and past price action suggest a potential move up to $115,000.
BTC Price Chart Shows Repeated Bullish Patterns
A closer look at the 4H BTC chart reveals a repeated pattern of price consolidation followed by double-digit gains. The previous two rallies, marked in April and May, saw gains of 12.27% and 11.12%, respectively. Each occurred after BTC had stabilized near a support level and moved through a descending trendline.
BTC Support Holds as Downtrend Line Faces Pressure
The support at $102,500 has held firm through several attempts to break lower. This horizontal level is marked on the chart as “Verified Support,” and appears to be acting as a base for the next possible move. The resistance line formed by lower highs continues to compress price action, further signaling a potential breakout.
Traders Monitor Momentum Near Breakout Zone
While current price action remains within a defined range, the compression between support and resistance often signals that a move is near. BTC chart analysis shows a convergence of trendlines, indicating a narrowing window for volatility.
The current Bitcoin market situation captivates many traders who are watching closely for a potential breakout at the $115,000 level, with stable support at $102,500.
