In today’s chart breakdown, Bitcoin (BTC/USD) is stabilizing around $109,300 after defending the ascending trendline drawn from March lows. Despite recent volatility and a brief dip below $106K, buyers stepped in to keep the structure intact, suggesting strong medium-term demand.
On the daily chart, BTC remains above both the 200-day moving average and the uptrend line, keeping the bullish bias alive. Immediate resistance is noted near $114K, followed by a major cap at $124,400, the multi-month high from earlier this year.
A clean break above that could reignite momentum toward $130K+.
From the weekly chart, Bitcoin’s structure continues to mirror a classic rising channel, with long-term support around $101K–$106K and upside potential still pointing toward $124K–$130K.
A close below $101K would mark a structural shift, potentially exposing the $92K and $78K regions.
Key Levels:
Resistance: $114,000, $124,400
Support: $106,100, $101,200, $92,000
Takeaway:
Bitcoin remains in bullish territory above its trendline, but momentum is fragile. Holding $106K–$101K keeps the door open for another leg higher, a break below it, however, could change the game quickly.