Bitcoin is once again facing strong resistance, and the market is debating whether it will break higher or fall to lower levels. Bitcoin price today is hovering just under the $115,500 to $116,200 range, a zone that has proven to be a significant barrier in recent sessions. This repeated rejection has left traders questioning the strength of the current uptrend and wondering if a deeper pullback is on the horizon.
The price of Bitcoin has been unable to push past the $115,500 mark despite multiple attempts. Each time it approaches this level, heavy sell orders appear, stopping momentum and sending the price slightly lower. This has created a ceiling that traders are watching closely. Remaining below both short- and long-term moving averages has also kept bearish pressure alive.
A clean break could trigger a push toward the $118,000 to $120,000 range. However, without enough buying power to sustain such a move, the risk remains that Bitcoin could turn lower and retest support zones closer to $112,000 or even lower.
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