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BTCUSD demonstrates sustained bullish momentum toward upper resistance levels. BTCUSD has shown notable resilience after establishing a Fair Value Gap (FVG) near the $104,680 mark. This gap has since been partially filled, and the market has responded positively with a decisive bullish breakout above the $108,390 minor resistance zone. The ascending structure, marked by higher lows and a sustained hold above key moving averages, demonstrates consistent accumulation phases. The recent bullish engulfing candle, observed around the $108,390 region, signals further upward pressure. Notably, the price has printed a sequence of bullish candles after rejecting the previous low near $104,680, showing intent to push toward the $115,000 resistance level.
Looking ahead, BTCUSD appears poised to advance toward the $115,000 supply zone in the near term. However, given the presence of the Fair Value Gap, a temporary retracement toward the $108,390-$107,810 range remains probable as the market seeks liquidity and re-accumulation. Should this pullback materialize and buyers defend the $107,810 support effectively, a subsequent rally toward $115,000 could ensue, potentially setting the stage for an extended move toward the $125,000 psychological resistance level.
BTC Key Levels
Supply Levels: $108,390, $115,000, $125,000
Demand Levels: $95,980, $85,000, $74,420
What are the indicators saying?
The BTCUSD pair continues to exhibit a bullish trajectory, underpinned by favorable alignment with key technical indicators. The price has consistently remained above the 9-day Simple Moving Average (SMA), presently positioned around $107,810, reflecting strong short-term buying interest. Additionally, the Relative Strength Index (RSI) oscillates near the 58 mark, indicating moderately bullish momentum without signalling overbought conditions. Overall, these indicators suggest that the market remains firmly in bullish control, with upward price movement likely to persist.
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