Bitcoin (BTC) Technical Outlook – Bulls Challenge Key Resistance at $115K

Bitcoin is showing renewed strength as it rebounds sharply from the $108K–$109K support zone (0.382 Fib), pushing above the $112K level (0.5 Fib) and reclaiming its short-term moving averages. Price currently trades around $114.5K, testing the 0.618 Fibonacci resistance ($115.5K) — a key hurdle that could define the next directional move.

The EMA structure (20/50/100/200) between $112K–$113K is tightening, signaling a potential momentum shift. A confirmed breakout above $115.5K could trigger a strong rally toward $120.2K (0.786 Fib) and potentially $124.4K, where the next major resistance lies.

Meanwhile, RSI (around 57) indicates strengthening bullish momentum, still below overbought territory — leaving room for further upside.

On the downside, immediate support rests near $112K, followed by $108.8K and $104.4K (0.236 Fib). Holding above the 200 EMA ($108K) is crucial for maintaining the bullish structure.

📊 Summary:

Trend: Turning Bullish (momentum recovery underway)

Support: $112K / $108.8K / $104.4K

Resistance: $115.5K / $120.2K / $124.4K

Outlook: BTC is testing a critical resistance zone at $115K. A decisive breakout above this level could open the path toward $120K–$124K, while rejection here may lead to a retest of $112K before the next move.

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