Bitcoin is showing fresh signs of strength after rebounding from a recent pullback, with prices finding solid support in the $112,000 range. The recovery follows a peak near $123,236, with current trading testing a key resistance zone between $118,000 and $118,500—an area where selling pressure has repeatedly capped gains.
Recent trading patterns suggest that dips are attracting strong buying interest. Volume spikes during sell-offs point to active accumulation, helping reinforce the market’s price floor. Short-term momentum has turned bullish after Bitcoin reclaimed the mid-$117,000 level, signaling growing confidence among traders.
However, the broader trend remains one of consolidation. A decisive daily close above $118,500 could open the door to further upside, potentially retesting recent highs. Conversely, another rejection at this resistance area may keep Bitcoin locked in its current range.
With buyers defending lower levels and momentum shifting upward, market participants are watching closely for a breakout that could set the tone for the weeks ahead.
