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.
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Bitcoin price is hovering near the $70,000 mark in early February 2026, a strong drawdown…
XRP is approaching what some analysts describe as a critical technical range that could determine…
Investor Mark Yusko says the cryptocurrency market is still moving through a classic cycle, even…
XRP price is hovering around $1.43, barely holding above the $1.41 support, and the market…
Patrick McHenry, vice chairman of Ondo Finance and former chairman of the House Financial Services…
Bitcoin had dropped over 50% from its all-time highs, with roughly 40% of that fall…
