Bitcoin (BTC) Holds Key Support with Technicals Pointing to Further Bull Run

Bitcoin has stabilized after a volatile August, trading firmly above critical Fibonacci retracement levels ($113,836–$115,864). The MACD histogram flipped positive (+123.45) for the first time in weeks, while the 7-day RSI (50.43) remains neutral — a combination that signals technical resilience without tipping into overbought territory.

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Bulls Defend Key Support, the Next Test is Fibonacci Resistance

The $110,000–$113,000 zone has proven to be a strong support cluster since August 2025, attracting dip-buying each time BTC approached this range. By holding this zone, bulls reinforced confidence and drew in short-term traders, with 24h trading volume rising 14.18% to $28B.

Source: coinmarketcap

Bitcoin is now pressing against the upper Fibonacci band at $115,864. A decisive breakout here could pave the way for a rally toward $120,400 (23.6% Fib level), a level that would likely trigger momentum-driven buying and potentially trap short positions.

The $115K–$116K area is critical in determining whether the latest bounce evolves into a fresh bull leg, or if it simply invites another round of profit-taking.

Technical Momentum Turns Up

Momentum indicators add weight to the bullish case. The MACD histogram turning positive signals renewed upside drive, while the RSI at 50.43 leaves room for further gains before conditions become overheated.

BTC has space to run higher without triggering overbought alarms, creating favorable conditions for bulls to test higher resistance levels. A breakout above $115,864 would likely confirm the start of another leg toward $120K+.

Still, the 30-day trend remains negative (-4.63%), reflecting that macro risks — from monetary policy shifts to liquidity squeezes — are not entirely behind the market. For now, though, BTC’s technical resilience and improving sentiment tilt the balance toward further upside.