Bitcoin’s recent price pullback from its $123,218 all-time high may stabilize near $113,000, where technical patterns and indicators suggest potential foundation for recovery. The support aligns with an inverse head-and-shoulders formation, signaling possible bullish momentum if maintained.
Critical technical thresholds include the 20-day exponential moving average (EMA) near $112,390. Sustaining this level alongside favorable Relative Strength Index (RSI) readings could reinforce upward potential.
Strong underlying demand persists through institutional accumulation, with treasury companies acquiring over 159,000 BTC last quarter. Retail participation remains robust, reflected in smaller holders adding approximately 19,300 BTC monthly.
Short-term volatility shows Bitcoin dipping below the 4-hour chart’s 20-EMA. Failure to overcome resistance might extend declines toward the $110,530–$113,000 range.
The directional outlook hinges on key technical breaches: A rebound above the 20-day EMA could propel Bitcoin toward $150,000, while dropping below $110,530 risks deeper correction toward $105,000.