Bitcoin's Resilience: A Bullish Rebound After $115,000 Dip

Bitcoin is showing promising signs of recovery, with bullish momentum quietly building following a significant drop from the $115,000 mark. As market volatility begins to settle, key technical indicators point towards a potential reversal, setting the stage for its next price trajectory.

Sharp Pullback Follows Rejection At $115,000 Resistance Zone

According to analyst Kurnia Bijaksana, Bitcoin, along with several altcoins, experienced a sharp decline after hitting a critical resistance zone near the $115,000 level. From a purely technical perspective, this rejection triggered widespread selling pressure across the broader crypto market. Despite the pullback, Bijaksana observed early signs of recovery, noting that this area had previously acted as a price ceiling in recent sessions.

Emerging Bullish Signals and Future Outlook

On the intraday chart, a rebound is already underway, suggesting that buyers are stepping in to defend key levels and potentially absorb the recent selling. Bijaksana highlighted the formation of a "higher low," a classic indicator signaling growing bullish momentum and potential for an upward continuation. Furthermore, the potential development of an "inverse head and shoulders" pattern, a strong bullish reversal signal with its neckline around the $115,300 level, could confirm further upside. If Bitcoin manages to break and hold above this neckline, it could trigger a measured move toward the $118,000 level. A confirmed breakout would provide a clear bullish signal, potentially paving the way for continued strength. Bitcoin is currently priced around $114,315, boasting a market capitalization exceeding $2.2 trillion and a 24-hour trading volume of over $58.8 billion, reflecting robust market activity.