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Bitcoin Jumps, Breakout Above Resistance Reinforces Bullish Momentum

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Aayush Jindal

Key Highlights

  • Bitcoin started a fresh surge above $113,000 and $114,000.
  • BTC/USD cleared a key contracting triangle with resistance at $112,900 on the 4-hour chart.
  • Ethereum also started a decent increase above $4,000.
  • XRP price is back above $2.420 but faces hurdles near $2.6850.

Bitcoin Price Technical Analysis

Bitcoin price found support near $103,500 and started a fresh increase against the US Dollar. BTC climbed above $108,000 and $110,000 to enter a positive zone.

Looking at the 4-hour chart, the price surpassed the 50% Fib retracement level of the downward move from the $126,279 swing high to the $103,447 low. During the increase, the price broke a key contracting triangle with resistance at $112,900.

BTC settled above $113,000, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). If the price extends gains, it could face resistance at $116,500.

The main hurdle is now forming near $117,550 and the 61.8% Fib retracement level of the downward move from the $126,279 swing high to the $103,447 low. A successful close above $117,550 might start another steady increase. In the stated case, the price may perhaps rise toward the $118,800 level. Any more gains might call for a test of $120,000.

Immediate support sits at $112,200. A downside break below $112,200 might start another decline. The next major support is $111,500. Any more losses might call for an extended decline toward the $108,800 support zone.

Looking at Ethereum, the price was able to follow Bitcoin and climbed above the $4,000 resistance region.

Today’s Key Economic Releases

  • US House Pricing Index for August 2025 (MoM) - Forecast +0.1%, versus -0.1% previous.
  • S&P/Case-Shiller Home Price Indices for August 2025 (YoY) - Forecast +1.9%, versus +1.8% previous.
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