Bitcoin is testing key levels. Prices have reached $116,500 to $117,000 in the resistance zone, but have not yet broken through. This range has served as a cap in recent sessions.
It will increase resistance
Bitcoin is consolidated from $113,000 after the rally. The rising triangle breakout earlier this month pointed to $116,500-117,000 as the first major hurdle. Bitcoin has now reached this zone but is struggling to close crucially above.
If Bitcoin clears this range with a strong confirmation, the next target is near $120,000, with an all-time high of around $124,000.
Supports the level of monitoring
Despite resistance, the broader trend remains bullish in the short term. The three-day MACD has been approaching a bullish crossover, a historically reliable signal of upward momentum. On the downside, support remains solid between $113,000 and $113,500, and if deeper pullbacks occur, the additional backing is between $106,700 and $107,600.
Liquidity clusters are built above and below current prices. Heatmap data shows liquidation levels around $116,900, suggesting another retest of the resistance area in the coming days. Below, when sales pressures rise, nearly $110,000 in liquidity could act as a magnet, which seems unlikely given the typical bullish structure.
What’s next for Bitcoin?
With the market overall high, there will be a period of consolidation or retesting of about $117,000 before a possible breakout. If successful, the move could push Bitcoin to $120,000 and reach it from record highs.
