Bitcoin is once again testing a major resistance zone, with traders closely watching the $116,000 level as the next decisive point for price action.
According to Crypto Rover, this range marks one of the most important barriers for Bitcoin in its current cycle. Charts show repeated rejections in the same region throughout recent months, creating a key battleground between bulls and bears.
At press time, Bitcoin is trading near $115,552, with a market cap of $2.3 trillion and a daily trading volume of $22.47 billion, down over 32% compared to the previous day. The Relative Strength Index (RSI) sits at 56, signaling neutral momentum with room for further movement in either direction.
Technical analysis highlights that Bitcoin has struggled to secure a daily close above $116,000, with each attempt followed by a pullback. This zone now acts as both a psychological and technical barrier.
Should bulls break through, analysts expect momentum to accelerate toward $120,000 and beyond, while failure could bring another correction back toward the $110,000 support region.
Despite the current pause, Bitcoin’s long-term outlook remains bullish. Institutional inflows, ETF approvals, and broader macroeconomic conditions continue to provide underlying support. However, with trading volumes cooling off, the market awaits a catalyst to drive the next breakout.
The coming days could prove decisive, as Bitcoin either confirms resistance or finally clears the $116K wall that has capped its recent rallies.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/market/bitcoin-price-bulls-struggle-to-clear-key-116k-level/