Bitcoin has rebounded strongly after last week’s sharp decline, trading near $115,000 and showing renewed strength across multiple technical indicators.
Analysts believe that the correction phase may already be over, setting the stage for a new bullish leg.
According to trader Michaël van de Poppe, Bitcoin’s recent bounce confirms market resilience. He highlighted $120,000 as a crucial resistance level that must break for the rally to gain momentum, while the $112,000 area remains the key zone to hold for continued bullish structure.
Van de Poppe emphasized that the bear market “hasn’t started yet,” suggesting that a new all-time high could arrive sooner than expected.
On-chain and technical charts support this outlook. The 12-hour KuCoin chart shows strong buying volume near the lower support zone, followed by a recovery candle pointing toward a potential retest of resistance levels around $119,500 to $120,000. If Bitcoin clears that zone, traders expect momentum to accelerate toward uncharted territory.
Meanwhile, market strategist Rekt Capital noted that Bitcoin dominance has completed its bullish divergence and is now facing resistance from previously lost support zones. This pattern, often referred to as a “post-breakdown relief rally,” implies that altcoins might start regaining strength once Bitcoin stabilizes.
The BTC dominance chart currently sits around 60%, reflecting a balance between Bitcoin-led recovery and emerging altcoin interest.
Additional momentum indicators reinforce the positive sentiment. The daily RSI for BTC/USD has rebounded toward 59, signaling recovering strength without entering overbought territory, while the MACD lines appear poised for a potential bullish crossover if upward momentum continues.
For investors, the near-term battle appears centered around the $120,000 mark. A decisive breakout could open the path toward a new all-time high, while failure to sustain above $112,000 might trigger renewed volatility. Still, market analysts maintain that current price action looks more like a recovery phase than the start of a prolonged downturn.
With buying activity returning and key levels holding firm, Bitcoin’s next move could determine whether this rebound evolves into the beginning of another record-breaking rally.
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-outlook-new-all-time-high-may-be-closer-than-expected/