Bitcoin’s latest move has left traders holding their breath as the $115,500 resistance proves harder to crack than expected. While bulls made a brief attempt to reclaim higher territory, sellers swiftly stepped in, and now the world’s largest cryptocurrency is testing key technical levels that could decide the short-term direction. For traders, the coming hours may be pivotal—are we on the cusp of another major drop, or is the next surge just one breakout away?

Technical Picture: Resistance and Pressure Points

Bitcoin (BTC) recently bounced from the $112,000 zone but faced intense overhead resistance at $115,500—the 50% Fibonacci retracement of its last downswing. Currently, BTC is trading below its 100-hourly simple moving average, with a newly established bearish trend line near $114,400 capping upward momentum. Technically, bulls must clear $115,500 decisively to restore confidence and target the $116,500 to $120,000 range.

Why This Matters for Market Participants

Momentum indicators show growing caution. The hourly MACD is strengthening in bearish territory and the RSI lingers below 50, suggesting subdued buying interest. This environment has historically led to increased volatility, meaning sharp price swings could dominate the session. Traders must assess whether this is a textbook pullback within a broader uptrend or the start of a deeper retracement.

Actionable Strategy: Key Levels to Watch

Those eyeing bullish setups need to monitor for a solid hourly close above $115,500; only then does a run toward $116,500 and beyond have technical merit. Meanwhile, failure to reclaim $115,000 risks opening the floodgates to downside targets at $113,200 and crucially $112,000. If BTC loses $112,000 support, further declines toward $110,500 and $108,500 are likely. Setting alerts at these levels and using disciplined stop-loss strategies is crucial in times of heightened uncertainty.

The Takeaway: Don’t Trade on Hope—Trade on Confirmation

With Bitcoin’s immediate trend on a knife’s edge, patience and discipline trump prediction. Wait for clear confirmation before taking positions; let the price show its hand at these well-defined levels. Adapt your risk exposure and watch for fresh momentum cues, especially as short-term sentiment remains fragile.

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