Bitcoin Nears Key $117,000 Level
Bitcoin (BTC) has reached an important point after turning a major resistance area into new support. This shows that buyers are gaining control of the market. The next big test is the $117,000 resistance, which will decide whether the rally continues or slows down.
New Support Signals Bullish Momentum
Alpha Crypto Signal noted that Bitcoin is showing renewed strength on the daily chart. With support now in place, the price is moving toward its previous high near $117,000.
- A breakout above this level could extend the bullish trend and possibly lead to new all-time highs.
- But if Bitcoin fails to break through, traders may take profits, causing a pullback.
Struggle at $116,000
According to Crypto VIP Signal, Bitcoin is still struggling to hold above $116,000. The overall trend remains bullish, but lower trading volumes — especially over the weekend — are slowing momentum.
This suggests the market may move sideways for a while before trying again to push higher. Such consolidation could help Bitcoin build strength for its next breakout attempt.
