Is Bitcoin Actually Bouncing Back or Just Playing Hard to Get? 🤔💸

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Bitcoin is trying that awkward “I’m totally fine” recovery above $112,500. Right now, it’s stuck consolidating like it’s deciding between Netflix or sleeping-might spike if it bullies past $114,250.

  • Bitcoin strutted its stuff above $113,200, because who doesn’t like a fresh start?
  • But then, it pulled a classic “below $113,000 and the 100 hourly SMA” move, i.e. looking meh.
  • It heroically broke a bearish trend line at $112,300 on Kraken’s hourly chart-yes, Kraken, not the sea monster.
  • If Bitcoin clears $114,250, it might just finally show up to the party.

Bitcoin Price: Eyeing Recovery or Just Playing Coy?

Starting from the gloriously modest $110,200 mark, Bitcoin tried to convince us it’s back by climbing over $111,500 and $112,500 resistance levels (like dodging a laundry pile).

The bulls apparently showed up, pushing price over $113,000 and $114,000. Plus, Bitcoin smashed a bearish trend line at $112,300-yes, breaking up is hard, but somehow it did.

It flirted with $114,270 before chilling out in consolidation. Because why rush when you can be dramatic?

There was a tiny dip below $114,000 where it tested the 23.6% Fib retracement level-basically Bitcoin’s way of saying, “I’m stressed, but not too stressed.”

Bitcoin Chart

At this point, Bitcoin is trading above $112,500 and the 100 hourly SMA. Immediate resistance is around $114,250-kind of like a bouncer at the crypto club.

Next stops might be $114,500, then $115,000. If it closes above $115,000, expect Bitcoin to get ambitious and test $115,500, then ambitiously eye $116,200. The dream? $118,000. Because why not shoot for the moon when you’re already in space?

But What If Bitcoin Decides to Throw a Tantrum?

If it can’t clear $114,250, Bitcoin might sulk and slide down. The first shoulder to cry on is $113,500 support, then the more serious $112,500 or that fancy 50% Fib retracement level.

Below that, things get dicey: $112,000, then $111,500, and if all else fails, the heartbreak hotel at $110,500, where Bitcoin might decline sharply. Cue dramatic music.

Technical jargon break:

Hourly MACD: Showing bullish vibes, like it had a double espresso.

Hourly RSI: Above 50, so Bitcoin’s feeling somewhat confident and not totally trash.

Key Supports: $112,500 and $112,000-Bitcoin’s safety nets.

Key Resistances: $114,250 and $115,000-the velvet ropes at the party’s entrance.

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2025-09-11 05:37