TL;DR
- Bitcoin rebounds above $115K with a 3% daily gain, shifting sentiment from fear to optimism as traders eye resistance at $122K and beyond.
- Market confidence improves as the Crypto Fear & Greed Index jumps from 24 to 38, while RSI and MACD indicators signal room for continued bullish momentum.
- Analysts target $137K on Fibonacci extensions, citing strong fundamentals, $2.3T market cap, and rising trading activity as fuel for a potential breakout.
After a turbulent week that rattled investor confidence, Bitcoin has regained its footing dramatically, pushing above $115,000. The rebound, marked by a more than 3% daily gain, has shifted the conversation from panic to possibility, with traders now weighing whether the rally could extend toward higher resistance levels soon.
Sentiment Rebounds With Fear & Greed Index
Confidence is returning as the Crypto Fear & Greed Index jumped from 24 to 38, marking its strongest single-day improvement in weeks. The move away from “extreme fear” suggests investors are regaining trust in the market. Bitcoin’s ability to stabilize above key technical levels has reinforced the perception that the worst of the recent downturn may be over. Analysts note that sentiment shifts of this magnitude often precede stronger price action, especially when supported by rising trading activity.
Technical Indicators Signal Momentum
On the charts, Bitcoin’s daily RSI sits near 59, reflecting moderate bullish momentum without overbought conditions. The MACD is also nearing a bullish crossover, a setup that traders view as a potential trigger for another upward push. These signals are encouraging for market participants who see room for continued recovery. If momentum holds, short-term traders expect a test of higher resistance levels, while long-term holders view the current structure as a healthy consolidation phase.
Analyst Eyes $137,000 Target
Popular analyst Crypto Rover reaffirmed his bullish outlook, citing Fibonacci extension levels that project a climb toward $137,000. He identified $122,000 as the next major resistance before a possible rally to the higher target, calling the scenario “most definitely possible for Bitcoin.” His analysis has added fuel to the growing optimism among traders, many of whom are closely monitoring volume spikes and institutional flows for confirmation.
Fundamentals Remain Strong
Despite recent volatility, Bitcoin’s fundamentals remain intact. Its market capitalization stands at roughly $2.3 trillion, supported by a 24-hour trading volume exceeding $94 billion. Analysts argue that the correction has created a healthier base for the next upward leg. With panic subsiding and sentiment improving, conditions appear favorable for a potential breakout that could test upper Fibonacci targets before year-end.
