Currently, Bitcoin is trading at approximately $112,256, elevating its market cap to a staggering $2.23 trillion. Over the past 24 hours, trading volume reached $44.38 billion with prices fluctuating between $109,257 and $112,327—tight enough to keep traders on their toes.
Analyzing the daily chart reveals that Bitcoin took a nosedive into the $107,000 range in early September but then rebounded robustly like a seasoned fighter. The emergence of strong green candles suggests renewed bullish enthusiasm.
The ideal entry point now appears validated around the $110,000 to $111,000 range with resistance expected near the $117,000 to $118,000 mark. This breakout is supported by substantial volume which enhances its potential for sustainability—assuming buyers remain engaged.
The 4-hour chart paints a picture of resilience as well. After plummeting to an alarming low of around $108652, Bitcoin quickly regained ground, returning above $112,0in no time. This rapid recovery resembles an amplified V-shaped rebound with higher lows forming consistently&46 Prime entry was between $109&44$110500 while resistance lies ahead at $113500-$11400 If prices face rejection here expect some consolidation though staying above$10850 keeps bulls firmly in control
Narrowing down further into one-hour analysis reveals neat consolidation within$109100-$11250 indicating steady accumulation rather than chaos Breakout candle firing off at18:00 UTC on September28th signaled short-term bullish intent clearing through$1105-$1110 without hesitation Maintaining levels over$1200 positions next take-profit zone within window spanning from12to13 Watch out for bearish divergence lurking among RSI readings potentially deceiving latecomers
On indicator front oscillators remained neutral today RSI registered48 Stochastic settled30 CCI drifted−58 even ADX known drama queen trend strength appeared subdued scoring17 Awesome Oscillator dipped−1986 also neutral momentum cheekily hinted bullish signal −339 MACD wasn’t inclined join rally flashing bearish alert −658 While oscillators played safe momentum whispers “Buy dip” MACD muttered “Not yet fam”
Moving averages displayed mixed sentiments resembling family Thanksgiving gathering some supportive others not10-period EMA SMA both waved bullish flags respectively positioned@12153@12209 however20/30/50-period MAs EMA SMA flashed red signals consecutively offering four bearish alerts row100-period EMA provided hope signaling bull favorably positioned long-term200-period MAs solidly positive EMASMA@106343104609 Translation? Long-term trend still favors bulls short-medium term crowd remains divided
Bullish Outlook:
Bulls are firmly back in control showing determination across all timeframes Breakout confirmations strong support holding steady high-volume rallies recent lows setup leans favorably toward continued upward movement Momentum quietly builds behind scenes200period moving averages align longerterm trends As long as bitcoin maintains position above110on lowvolume party has room run straight into117-118zone
Bearish Outlook:
Not so fast cowboy Despite convincing bounce several key moving averages stack against bulls MACDs sell signal shouldn’t be ignored lightly Oscillators remain neutral best hardly rousing endorsement Failure break above135 coupled declining volumes could spell trouble possibly setting up bull trap A slip below850 would invalidate entire shortterm rally reopen gates sub107lows