"Despite early-week bearish pressure, buyers stepped in repeatedly at key support levels. Bitcoin price was up 1% in 24 hours throughout the day. Over the past week, Bitcoin price flirted with the $100,000 threshold multiple times, dipping slightly below on Tuesday, Wednesday, and Friday. However, bulls quickly defended these levels, ensuring no daily close occurred under $100,000. The 55-week exponential moving average (EMA) at $99,000 repeatedly acted as a reliable support floor, providing a strong foundation for the current rebound."
"Technical analysts now point to $109,400 as the next Fibonacci resistance, with $111,000 serving as a more substantial barrier if Bitcoin can maintain its momentum. Beyond these levels, $116,000 is viewed as a decisive threshold that could shift market sentiment firmly in favor of bulls. Institutional activity played a significant role in the recent rally. Strategy, the world's largest corporate Bitcoin holder, disclosed a $49.9 million acquisition of 487 BTC last week, bringing its total holdings to 641,692 BTC, valued at over $47.5 billion."
Bitcoin rebounded above $106,000 after brief weekend dips below $100,000, rising about 1% over 24 hours. Buyers repeatedly defended key support levels across the week, preventing any daily close under $100,000 despite intraday dips. The 55-week exponential moving average (EMA) at $99,000 served as a reliable support floor during the pullbacks. Technical resistance levels sit at $109,400 (Fibonacci) and $111,000, with $116,000 seen as a decisive threshold that could solidify bullish sentiment. Institutional buying contributed to the rally, with Strategy acquiring 487 BTC for $49.9 million, increasing its holdings and demonstrating stock-funded accumulation methods. Rumors of an end to the U.S. federal government shutdown further lifted investor confidence and potential Nasdaq-driven buying pressure for Bitcoin.
Read at Bitcoin Magazine
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