Bitcoin Bearish Trend Weakens as Analysts Target $115,482

Summary: Bitcoin remains above the $100,000 mark despite recent market volatility, signaling a potential continuation of the long-term bullish trend. Crypto analyst Master Ananda sees signs of strength and targets a new all-time high of $115,482 based on technical indicators and price levels.

Background

Following a brief dip triggered by heightened market uncertainty, Bitcoin’s price found support above $102,000, resisting further downward pressure. Despite a wave of bearish sentiment, the cryptocurrency has maintained its footing above key technical levels, contributing to growing optimism about its next move upward.

According to crypto analyst Master Ananda, the June 13 correction marked the end of the bearish momentum. He highlights the asset’s resilience at major support levels, suggesting Bitcoin is poised to resume its rally.

Technical Indicators Suggest Bullish Outlook

Bitcoin is currently trading above the 0.618 Fibonacci retracement level—a zone often considered a strong bullish signal. Master Ananda also points to upward moves past several key exponential moving averages (EMAs), including the EMA34, EMA21, EMA8, and 3MA13, reinforcing his bullish forecast.

To sustain the bullish momentum, Bitcoin must hold above immediate support levels at $105,293 and $105,314. A breakdown below these would shift focus to the next support range at $104,533 and $104,282, which aligns with the 0.618 Fibonacci level.

Potential for New All-Time Highs

Beyond support, Bitcoin faces key resistance levels at $106,625 and $107,559. These levels will test the strength of the current uptrend. A break above $107,559 could open the way to $108,989 and then $110,586.

If bulls succeed at pushing through these resistance levels, the roadmap to a new peak becomes clearer. Master Ananda projects a rally toward $115,482, supported by a strong 1-hour chart showing higher lows, bullish candlestick patterns, and favorable oscillators.

Market Sentiment and Price Outlook

Market sentiment remains cautiously optimistic as Bitcoin holds critical technical levels. While volatility persists, the presence of higher lows and buying resilience near $100,000 suggests continued institutional and retail interest. Traders are watching closely for a breakout above the $110,000 zone as confirmation of the next leg up.

Should momentum continue, Bitcoin may be set to write a new chapter with a historic rally toward $115,482, as bullish technical trends begin to outweigh recent bearish pressure.