Bitcoin Targets $113,000 Zone Amid Bullish Rebound

Bitcoin is currently targeting the $113,000 liquidity zone, driven by a bullish rebound that has seen the price reclaim trend support and strong volume clustering between $102,000 and $106,000. This movement follows a sharp recovery from sub-$100,000 levels, fueled by diminishing market uncertainty and the recovery of Bitcoin’s “golden line” support, which has reset market sentiment. The price is currently trading above $103,000 with strong daily gains, setting the stage for potential short liquidations stacked near $113,000.

Bitcoin’s price structure is defined between the $102,000 and $110,000 range, with intense trading volume between $102,000 and $106,000. This zone acts as a strong decision point, reflecting major accumulation and critical support. A visible bounce from below $100,000 has helped reclaim lost ground, showing renewed upward pressure. Resistance remains just below $110,000, with Bitcoin climbing above its ascending trend line, indicating positive market intent despite minor corrections.

Bitcoin’s perpetual futures chart on Binance confirms bullish continuation, with the price surging from $85,000 in May to current levels around $103,000. A daily gain of over 2% reinforces ongoing momentum, with order book data showing tight spreads and strong trading activity. There is visible buyer interest slightly above current prices, and the price behavior throughout June and early July remains range-bound, with resistance around $112,000 and support at $105,000. Recent movement shows Bitcoin climbing above key trend supports, following the potential recovery of the golden line—a critical signal for invalidating bearish positions.

Doctor Profit monitors this level closely, maintaining a stop loss at $103,300, ready to exit shorts if the price regains strength. The setup signals cautious optimism, with momentum favoring bulls. Consequently, if Bitcoin breaks above $113,000, a wave of short liquidations could trigger a fresh rally. The recent rebound in Bitcoin's price can be attributed to several bullish catalysts, including increased institutional interest and positive market sentiment. The growing acceptance of cryptocurrencies by major financial institutions and corporations is driving demand for Bitcoin, pushing its price higher. Additionally, the limited supply of Bitcoin, with a maximum cap of 21 million coins, creates scarcity, further driving up its value.

However, there are also downside risks to consider. The cryptocurrency market is known for its volatility, and sudden price swings can occur due to various factors such as regulatory changes or market sentiment shifts. Analysts have predicted that Bitcoin could face resistance at the $113K level, and a failure to break through this barrier could lead to a correction. According to the analyst's forecast, if Bitcoin fails to sustain its momentum above $113K, it could potentially retrace to the $99K support level or even lower. Despite these risks, the overall sentiment surrounding Bitcoin remains bullish. The cryptocurrency has shown resilience in the face of market challenges and continues to attract new investors. As the market matures, it is expected that Bitcoin will become more stable, making it an attractive investment option for both retail and institutional investors. The recent price action suggests that Bitcoin is on track to reclaim the $113K level by July, barring any significant market disruptions. This would mark a significant milestone for the cryptocurrency, further cementing its status as a leading digital asset.