11.09.2025 02:27
Drawing data from internet sources, the price of Bitcoin is currently in an effort to reclaim ground above the $112,500 mark. The digital currency is undergoing a consolidation phase and possesses the potential for further ascent should it successfully breach the resistance situated at $114,250. Bitcoin initiated a fresh upward movement from the vicinity of $113,200, though it is presently trading below $113,000 and the 100-hour Simple Moving Average. Crucially, a bearish trend line, which had presented resistance at $112,300 on the hourly chart for the BTC/USD pair, has been decisively broken.
The cryptocurrency commenced a notable recovery trajectory from the $110,200 level, effectively surmounting the resistance thresholds at $111,500 and $112,500. Enthusiastic buying pressure, or bullish sentiment, propelled the price beyond $113,000 and $114,000. This upward momentum was further underscored by the aforementioned break of the bearish trend line with resistance at $112,300. Having reached a high of $114,270, the BTC/USD pair has since entered a phase of consolidation, experiencing a slight pullback below $114,000 and testing the 23.6% Fibonacci retracement level of its recent move from $110,815 to $114,270. Bitcoin is now trading with a footing above $112,500 and the 100-hour Simple Moving Average, indicating a shift in market dynamics.
Looking ahead, immediate upward pressure is being met near the $114,250 resistance level, with the first significant hurdle appearing at $114,500. A sustained push above this could pave the way for testing the $115,000 mark. A decisive close above this $115,000 resistance could trigger a more substantial rally, potentially driving the price to encounter resistance at $115,500 and subsequently targeting the $116,200 level. The ultimate objective for this upward swing could be set at $118,000.
Conversely, the prospect of another downturn for Bitcoin looms if it fails to decisively overcome the $114,250 resistance zone. In such a scenario, immediate support is identified at the $113,500 level. The subsequent critical support cluster resides around the $112,500 mark, which aligns with the 50% Fibonacci retracement of the recent price swing. Further down the chart, support is now evident near the $112,000 area, and a failure to hold this could lead to losses extending towards the $111,500 support in the short term. The principal support level, however, is firmly established at $110,500, below which a sharp and significant decline in Bitcoin's price could be anticipated. Technical indicators offer further insight: the hourly MACD is currently gaining momentum within the bullish territory, and the hourly RSI for BTC/USD has surpassed the 50 level, suggesting a positive underlying trend. Key support levels are $112,500 and $112,000, while major resistance points are $114,250 and $115,000.
