Bitcoin Price Attempts Recovery Amidst Resistance Challenges
- Bitcoin price is trying to recover above $112,500 and is now consolidating.
- BTC started a fresh increase from the $110,200 zone, climbing above $111,500 and $112,500 resistance levels.
- The price traded as high as $114,270 before entering a consolidation phase.
- Immediate resistance is near the $114,250 level with key resistance at $115,000.
- Support levels are at $113,500 and major support at $112,500.
The Bitcoin price recovery faces hurdles near the $114,250 resistance zone after climbing from a low of $110,200. A successful breach of this level could lead to further gains towards the next target of $115,000 or higher.
If BTC fails to clear the immediate resistance zone at $114,250, it may decline towards the support levels at $113,500 or even lower to major support at $112,500. (Source)
