Bitcoin Defies Gravity at Critical Support – Is ATH the Next Stop?
Bitcoin just staged a textbook rebound from a major demand zone—fueling speculation that price discovery mode could be imminent. The king of crypto isn't asking for permission, it's taking names.
Liquidity hunters take note: This bounce wasn't polite. It was a violent rejection of lower levels that left shorts scrambling (as usual). The market's memory is frustratingly short—haven't we seen this movie before?
What's different this time? Institutional flows are sneaking back in while retail traders still think 'stablecoins' means Tether. The irony? Wall Street's late to the party but might get the best seats.
One cynical truth: In crypto, 'key demand levels' are just places where greater fools finally show up. But when the music's playing, nobody cares who's left without a chair.
Bitcoin Prepares For Expansion Phase
Bitcoin appears poised to enter a new expansive phase, with a breakout above its all-time high potentially triggering a fresh wave of bullish momentum, not just for BTC, but for the broader crypto market. After weeks of grinding just below the $112,000 resistance level, bitcoin has struggled to push decisively higher. However, the structure remains bullish, and buyers have consistently defended key demand zones around $105,000. This ability to maintain higher lows during a period of consolidation signals strong market control by the bulls.
According to Jelle, Bitcoin has just seen another powerful bounce from the 50-day moving average and exponential moving average (MA/EMA) cluster—an area that has historically acted as a dynamic support zone. Each time BTC has touched this cluster in recent months, it has rebounded with renewed strength, and the latest bounce is no exception. Jelle believes this reaction confirms the uptrend remains intact, with conditions aligning for a breakout.
“The trend is up—new all-time highs are very much on the menu this week,” Jelle noted, emphasizing the importance of sustained momentum above current resistance. If Bitcoin can close decisively above $112K, it would likely ignite a surge in altcoins, many of which have lagged during BTC’s dominance-driven phase. With bulls maintaining control and technical support holding firm, the market is now watching for confirmation that Bitcoin is ready to enter price discovery once again. A successful breakout could mark the beginning of the next major leg in the crypto cycle.
BTC Tests Resistance Again After Volatile Bounce
Bitcoin is once again pushing toward the critical $109,300 resistance level after bouncing strongly from the $105,000 support zone. The 12-hour chart shows a series of failed breakouts above the $109K level in recent weeks, highlighting the strength of this resistance zone. However, bulls have continued to defend higher lows, maintaining overall market structure and preventing deeper corrections.
The latest candle shows a 1.93% surge, reclaiming the 50- and 100-period moving averages around $106,000, a key short-term cluster that previously acted as support. Volume also picked up during this bounce, suggesting renewed buying interest as Bitcoin tries to establish bullish momentum.
Still, the rejection just below $109,300 remains a concern. If BTC fails to break and close above this range soon, the risk of a return to the $103,600 demand zone increases, especially in the face of rising volatility and profit-taking across the network.
Featured image from Dall-E, chart from TradingView
