Bitcoin has shown resilience as it approaches key price resistance levels, particularly around $117,000. Bullish sentiment persisted following a rebound, with analysts identifying crucial price targets and monitoring market structure. Data suggests significant short liquidations are occurring, while new liquidity is being added at higher levels. The price fluctuation aligns with Bollinger Bands indicators, leading to what is termed a 'head fake,' where the price briefly dropped below expected levels before recovering. Market participants are weighing potential upward movements, with notable resistance now established between $117,500 and $118,000. Current support structures are also observed below $114,000, emphasizing market dynamics that frequently concentrate around liquidity points. Overall, despite a volatile uptrend, traders remain cautiously optimistic about reaching new highs.

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