BTC regains momentum after touching major demand levels, signaling renewed bullish interest near the $104K–$106K range.
Bitcoin (BTC) has bounced strongly back to $107,000, recovering from recent lows as buyers stepped in near the critical support zone around $104K. The move marks a sharp shift in short-term sentiment, with technical indicators now suggesting a potential recovery phase after weeks of sideways trading.
The daily chart shows Bitcoin reclaiming ground after testing its green demand zone, a level that has repeatedly acted as a strong foundation since early summer. Price action indicates that buyers are actively defending this range, while the $111K–$113K resistance area (highlighted in orange) remains the next key level to break.
“Bitcoin has once again bounced from a historically strong support band,” said BITX market strategist. “As long as the $104K floor holds, the risk-to-reward setup remains favorable for bulls targeting a move toward $115K.”
Repeated rejections from the red resistance zone near $124K continue to define the upper boundary of Bitcoin’s medium-term range. However, the formation of higher lows — highlighted by multiple rebounds from the green zone — suggests underlying strength despite short-term volatility.
Trading volume has remained steady throughout the correction, hinting that accumulation may be occurring around the current levels. Technical traders are now watching for confirmation of a breakout above $110K, which could signal the start of a broader recovery trend.
“Momentum indicators are showing early signs of reversal,” According to BITX analysts. “If BTC can sustain above $107K and close daily candles above $110K, we could see a renewed push toward the upper resistance at $120K.”
In the broader context, Bitcoin continues to trade within a defined consolidation range, reflecting market indecision ahead of macroeconomic catalysts and institutional flows. Yet, the consistent defense of support levels underscores strong buyer interest at lower prices.
Bitcoin’s rebound to $107K reinforces the importance of the $104K–$106K support area, where bulls continue to absorb selling pressure. With momentum shifting in favor of buyers, traders are closely watching for a break above $110K as the next validation of strength. A successful push through that level could open the path toward $115K and beyond, potentially setting the tone for Bitcoin’s next major move heading into year-end.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.