Bitcoin surged beyond $113,600 on Wednesday, validating the bullish inverse head-and-shoulders pattern identified earlier in the week. The rally, fueled by softer-than-expected U.S. PPI data, signals a possible end to the recent correction from record highs above $124,000. Technical models suggest a move toward $120,000 if momentum holds. Moving averages across the 50-, 100-, and 200-hour charts are trending upward, and the daily MACD histogram has flipped positive. Traders now eye resistance near $114,700, with $110,000 seen as critical support.
About The Author
More Stories
Several bitcoin indicators continue to trend negatively, casting doubt on the bullish $70,000 support narrative
Another 500 bitcoin moved by Bhutan to exchanges, bringing total 2026 outflows above $150 million.
Circle’s recent decline may be overstated, with analysts pointing to a crypto bill that undercuts Coinbase’s edge.