Bitcoin continues to hold an important support area following its new all-time high, confirming its bullish structure. If this level holds, further price increases are anticipated.
Key Technical Points
Bitcoin remains above the $111,800 level, which previously acted as resistance and is now confirmed as support. This level is validated by several technical confluences, making it critical for upward movement.
Structural Analysis and Volume
From a structural perspective, Bitcoin maintains a clear uptrend, and the latest corrective move tested but did not break the bullish formation. Increasing volume while holding support indicates active demand and potential reversal.
Expectations for Further Price Action
Bitcoin's bullish structure remains intact as long as $111,800 holds. If this level is breached, the next target will be $123,230, followed by a rapid move into new price discovery.
Therefore, Bitcoin shows strong signs of support at $111,800, opening up possibilities for further growth, while important support levels remain under observation.
