Bitcoin Support Test at $111K Signals Possible Upside

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Bitcoin put in a lower high while consolidating gains as favorable RSI signals combined with an expected Federal Reserve interest-rate cut.

Bitcoin begins to find a local floor, with analysis highlighting several key lines in the sand.

RSI signals demand upside continuation as longer timeframes remain in doubt.

The Fed rate-cut decision begins to show in cooling US stocks’ performance.

Bitcoin tested key resistance on Tuesday, with traders bullish on BTC price upside.

Bitcoin price teases new highs next

After an impressive weekly close, BTC/USD consolidated gains during Monday’s Wall Street trading session.

Trader and analyst Rekt Capital noted two important support levels for bulls to reclaim: the 21-week exponential moving average (EMA) at $111,200 and $114,500 weekly close.

“Bitcoin has successfully Weekly Closed above both the 21-week EMA (green) and $114.5k (black),” he told X followers alongside a chart.


20% Profit on #HBAR/USDT

The trader pointed out that a breakout above this level could propel BTC to new all-time highs. 

Our team consists of top-notch professionals with a deep understanding of market behavior and trends. We have a skilled team of full-time crypto traders who excel in market analysis and trading.

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