Bitcoin is testing an important level. The price has reached the resistance zone between $116,500 and $117,000, but it has not yet broken through. This range has acted as a ceiling in recent sessions.
Bitcoin has been consolidating after its rally from $113,000. An ascending 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 decisively above it.
If Bitcoin clears this range with strong confirmation, the next target sits near $120,000, followed by the all-time high around $124,000.
Despite resistance, the broader trend remains bullish in the short term. The 3-day MACD is nearing a bullish crossover, historically a reliable signal of upward momentum. On the downside, support remains firm at $113,000–$113,500, with additional backing at $106,700–$107,600 if a deeper pullback occurs.
Liquidity clusters are building both above and below the current price. Heatmap data shows heavy liquidation levels around $116,900, hinting another retest of the resistance area in the coming days. Below, liquidity near $110,000 could act as a magnet if selling pressure intensifies, though this appears less likely given the prevailing bullish structure.
With the market still trending higher overall, a period of consolidation or retests around $117,000 is likely before a possible breakout. If successful, the move could push Bitcoin toward $120,000, placing it within reach of its record highs.
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