Bitcoin Bearish Trend May Be Over as Higher Lows Point Toward $115,482 Target

Summary: Bitcoin continues to trade above $100,000, defying recent bearish sentiment. Analysts suggest key support levels are holding, with a potential rally toward $115,482 if bullish momentum persists.

Background

Bitcoin has faced increased volatility in recent days, with trading volumes fluctuating as market participants debate the digital asset’s next move. Despite a downturn on June 13 that briefly threatened a deeper correction, Bitcoin managed to hold above $102,000—indicating strong underlying support. According to crypto analyst Master Ananda, this could mark the end of the bearish period, setting the stage for a possible rally.

Technical Setup and Path to $115,482

Master Ananda’s analysis suggests Bitcoin remains firmly in bullish territory on the 1H timeframe. The price has stayed above the 0.618 Fibonacci retracement level—a key indicator used by traders to assess market strength. Furthermore, Bitcoin has surpassed several important moving averages, including the EMA8, EMA21, EMA34, and the 3MA13.

The analyst highlights the importance of the $105,293 and $105,314 support levels. Maintaining these levels would support continuation of the uptrend. However, if Bitcoin slips, the next support levels are found at $104,533 and $104,282—aligning with the critical 0.618 Fibonacci level.

Resistance Levels and Potential Breakout

To confirm a breakout toward new all-time highs, Bitcoin must overcome resistance near $106,625 and $107,559. These levels have acted as significant barriers to bullish momentum in recent days. A successful breach would see the next targets at $108,989 and $110,586, according to Ananda.

If bulls can sustain pressure beyond these resistance zones, the next price milestone would be $115,482—representing a new all-time high and signaling a potential extended bullish cycle. The analyst notes that key factors such as candlestick patterns, oscillator movement, and higher lows reinforce a bullish trend on short-term charts.

Market Outlook

While short-term downside risk remains if support fails, the broader technical structure suggests bullish continuation is likely, provided key levels hold. With macro sentiment cautious yet optimistic, all eyes are on Bitcoin’s ability to reclaim higher resistance zones and extend its rally toward uncharted price territory.