Bitcoin is trading within a critical technical support zone between $114,400 and $115,555 – an area formed by a CME futures gap that has recently transitioned from resistance to support.
Market activity shows notably low trading volume reflecting trader caution and increased potential for sharp near-term price swings. Attempted recoveries face substantial resistance between $120,000 and $124,000, limiting upward momentum.
Technical analysts indicate that failure to hold current support could trigger moves toward lower targets near $92,000, where an unfilled CME gap aligns with the 200-day exponential moving average. Despite near-term volatility concerns, Bitcoin’s broader structural uptrend remains intact unless a decisive breach below $92,000 occurs.