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BTCUSD outlook points towards renewed bullish price trajectory. From a technical standpoint, Bitcoin price found solid footing within the order block support zone around $108,390. This zone was defended successfully, with buyers reclaiming momentum and driving the price back above $115,000. The move has effectively reestablished a bullish structure, negating prior downside pressures. The recent higher low near $111,000 reinforces the ongoing uptrend, while the failed breakdown below the 0.618 Fibonacci level confirmed demand strength. As such, the current upward drive appears technically sustainable, supported by liquidity inflows and the absence of significant overhead resistance before key levels.
Looking forward, the bullish trajectory projects Bitcoin retesting $124,530, which represents the prior high on the Fibonacci extension. Should momentum persist, a breakout above this threshold opens the pathway toward the psychological round number of $130,000, followed by the extended upside target at $136,000. Given the market’s structural resilience and confirmation of support at $108,390, the probability of upward continuation outweighs bearish risks. Traders and institutional participants will likely view the current consolidation and bounce as an accumulation phase ahead of a strong advance toward higher valuations. Thus, BTCUSD retains a forward-looking bullish bias, with risk-reward skewed in favor of long positions.
BTC Key Levels
Supply Levels: $124,530, $130,000, $136,000
Demand Levels: $108,390, $95,980, $85,010
What are the indicators saying?
The BTCUSD daily chart presents a constructive setup with indicators aligning toward a bullish continuation. The 9-day SMA, currently hovering near $112,360, is acting as a dynamic support level that coincides with the Fibonacci retracement zone of 0.618 ($108,750) and 0.5 ($111,380). The MACD histogram has recently flipped positive, with the signal line gearing toward convergence, indicating momentum recovery after the recent correction. Collectively, these signals emphasize that bullish momentum is building and the pair is well-placed to extend gains.
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