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Bitcoin’s volatility has increased over the last few days as traders wait for a breakout or a breakdown. After testing $105,000 as support, BTC rebounded strongly and pushed back toward the $109,000 resistance zone—an area that has capped upward momentum for several weeks. Bulls continue to dominate the overall structure. However, the price continues to be hesitant just below its all-time highest, causing the market uncertainty.
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Bitcoin’s next long-term trend will be confirmed when it reaches the $112,000 price level with a strong volume. This range-bound situation could last until then, as traders continue to consider macro factors, and profits-taking increases.
Jelle, a top analyst at Jelle Securities Inc. shared with us a technical report that pointed to ‘another strong bounce off the cluster of 50-day MA and exponential moving (MA/EMA), key dynamic levels which have consistently triggered bullish reaction. This bounce confirms that the trend is strong, and buyers are continuing to enter at key levels. BTC will continue to hold above the level of this support zone, the path toward a breakout remains intact—but confirmation is still needed.
Bitcoin prepares for expansion phase
Bitcoin is poised to enter an expansive phase. A breakout above the all-time high could trigger a wave of new bullish momentum not only for BTC but also for the wider crypto market. Bitcoin’s recent struggles to move decisively higher are the result of weeks spent grinding below $112,000, a resistance level. The structure is bullish and the buyers are defending key demand zones at $105,000. It is a sign of strong bull control that the price can remain higher during periods of consolidation.
According to Jelle, Bitcoin has just seen another powerful bounce from the 50-day moving average and exponential moving average (MA/EMA) cluster—an area that has historically acted as a dynamic support zone. BTC bounced back with new strength each time it touched the cluster over the past few months. The latest bounce was no different. Jelle says this is a confirmation that the trend remains up, and all conditions are in place for a breakout.
“The trend is up—new all-time highs are very much on the menu this week,” Jelle stressed the importance for sustained momentum over current resistance. Bitcoin closing above $112K will likely spark an altcoin surge, as many have lagged behind during BTC’s dominant phase. The market, with bulls in control and strong technical support, is waiting for confirmation from the Bitcoin price to be revealed once more. Successful breakouts could be the start of the next big leg for the crypto-cycle.
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BTC Testing Resistance After Volatile Bounce
Bitcoin has re-entered the $109,300 level of resistance after rebounding strongly from its $105,000 zone support. This 12-hour chart highlights a string of failed breakouts from the $109K zone in the last few weeks. The bulls continued to protect higher lows in order to maintain the overall market structure. This prevented deeper corrections.
The last candle displays a surge by 1.93%. It has recovered the 50-period and 100-period averages at $106,000. This was a major short-term cluster which previously served as support. This bounce was also accompanied by a surge in volume, which indicates renewed buyer interest.
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The rejection of BTC just under $109,300 is still a cause for concern. BTC must break above and close this range quickly, or the market will return to $103,600. This is especially true in light of the rising volatility, and the profit-taking on the entire network.
Featured picture from Dall E, chart by TradingView
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Source: www.newsbtc.com
