Bitcoin’s price has once again captured attention as it rebounded strongly from the $112K support and is now trading above $116K. In this article, we will look into the support and resistance levels, as well as the price forecasts for Bitcoin in the near future.
Support and Resistance Levels
The chart highlights a key support zone between $111,350 and $112,142. This region has acted as a strong cushion for BTC, with buyers stepping in aggressively. Below this, the 200-day SMA at $102,349 and the psychological $100,000 level form a crucial safety net for the medium term.
On the upside, the immediate resistance lies at $118,616. This level has previously rejected Bitcoin multiple times, creating a decisive battleground. A confirmed breakout above it could fuel bullish momentum toward higher price objectives.
Short-Term Bitcoin Prediction
In the short term, the RSI is trending upward, currently around 59, just below the overbought zone. This indicates healthy buying pressure without yet flashing extreme levels. If BTC can sustain above the 50-day SMA and break $118K, the next target will be around $120K to $122K.
However, rejection at $118K could lead to a minor pullback, potentially retesting $114K before another attempt higher.
Medium-Term Bitcoin Outlook
Looking at the broader trend, the 200-day SMA at $102,349 is sloping upward, reflecting strong medium-term support. If BTC successfully breaks above $118,616 and consolidates, a medium-term rally toward $125,000 becomes realistic. Beyond that, bulls could eye $130,000 as the next major psychological milestone.
If momentum fades, however, Bitcoin could fall back to the $111K–$112K range. A deeper correction toward $100K would only occur if global market sentiment weakens significantly.
Bitcoin is showing resilience after bouncing from its recent lows and reclaiming its 50-day SMA. Traders should closely watch the $118K resistance — a breakout here could set BTC on track toward $125K in the medium term, while rejection may trigger another consolidation phase around $114K.
