BTCUSD
Bitcoin is trading above the support area at $113,000, and prices are likely to decline and retest the mentioned support level. This scenario would be invalidated if the resistance area at $119,000 is broken to the upside in today’s trading.
|
Support |
113000 | 109000 | – |
| Resistance | 119000 | 123600 |
– |
Bitcoin surged strongly in today’s trading, extending its recovery after last week’s historic crash, climbing above $113,000 amid a cautious return of confidence to the cryptocurrency market. The rebound was driven by opportunistic buying from investors following a massive liquidation that wiped out nearly $19 billion in long positions, while market sentiment began to stabilize after Trump’s reassuring comments on U.S. China trade relations.
Despite the sharp rebound, the broader trend remains cautious and uncertain, as traders await greater clarity on the U.S.–China situation before taking new positions making the current movement appear more like a temporary corrective bounce within a narrow speculative range.
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