Bitcoin has confirmed an upside breakout from a descending broadening wedge, currently trading near $112,000 and testing resistance levels between $113,200 and $115,000. This movement is bolstered by $8.34 billion in DeFi value locked and 652,000 active Bitcoin addresses, indicating strong market fundamentals.
A sustained move above the $115,000 mark is considered a significant bullish trigger. Data from Coinglass reveals nearly $1.58 billion in short positions clustered around the $113K–$115K range, suggesting potential for short squeezes if Bitcoin surpasses this resistance. Traders are closely watching liquidity clusters, DeFi metrics, and active address growth to confirm the breakout's strength.
Bitcoin Breaks Out, Tests $113K–$115K Resistance Amid Strong Market Indicators
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