Bitcoin is facing resistance just below its $112,000 all-time high, struggling to break into price discovery as the market gains momentum. After reaching a high of $110,500 yesterday, BTC has retraced over 2%, but price action remains bullish. Traders are closely watching this consolidation, which may act as a springboard for a decisive move upward. Related Reading: Ethereum Forms Rising Wedge Pattern – $2,200 Support Back In Focus? According to top analyst Ted Pillows, multiple technical indicators support a bullish outlook. Notably, Bitcoin has just confirmed a bullish MACD crossover on the daily timeframe, which is often a precursor to upside continuation. Adding to the bullish case is Bitcoin’s highest monthly close in history, a key psychological milestone that could bring new inflows and spark renewed interest from sidelined investors. The current setup points to a market that’s primed for upside, provided buyers can reclaim the $112K level. As macroeconomic uncertainty fades and bullish momentum builds across the crypto space, Bitcoin could soon enter uncharted territory. All eyes are on the next few sessions as BTC tests critical levels ..
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