Bitcoin is currently trading around $111,365, just above a critical support level at $111,350. The question is whether BTC can overcome the current resistance levels.
Key Support and Resistance Levels
Current key levels for Bitcoin:
* **Immediate Resistance:** $112,142 and the 50-day SMA at $115,648 * **Strong Resistance Zone:** $118,616 – a breakout above this level could shift momentum bullish * **Immediate Support:** $111,350 (current line of defense) * **Major Support:** $101,465 (200-day SMA) and the psychological level of $100,000 * **Extended Downside Risk:** $75,000 – highlighted as a potential bottom if macro weakness intensifies.
Technical Indicators
Current technical indicators for Bitcoin:
* **Downtrend Line:** BTC remains under a descending red trendline, signaling bearish dominance unless broken. * **RSI (14):** Currently at **45.91**, showing neutral-to-weak momentum, leaving room for either upside recovery or further decline. * **Moving Averages:** The 50-day SMA is capping rallies, while the 200-day SMA acts as solid long-term support.
A decisive close above the 50-day SMA could attract bullish momentum, while a breakdown below the 200-day SMA risks deeper correction.
Medium-Term Bitcoin Price Predictions
Possible scenarios for Bitcoin include:
* **Bullish Scenario:** A breakout above **$115K–$118K** could send BTC back toward the **$120K** zone, with further upside potential if momentum strengthens. * **Bearish Scenario:** Failure to hold **$111K support** may lead to a retest of the **$100K mark**, and if broken, open the way toward the **$75K support zone**.
Given current indicators, Bitcoin’s price action remains range-bound but vulnerable to macroeconomic shocks and market sentiment shifts.
Bitcoin's next major move depends on whether bulls can defend $111K and reclaim $115K resistance. Until then, BTC trades cautiously between crucial moving averages, with risks skewed to the downside if support levels crack.
