Key points:

• Bitcoin sees a modest rebound into the weekly candle close, but traders see key resistance overhead.

• BTC price action risks a much deeper drop if bulls fail to reclaim that resistance zone.

• Fibonacci analysis hints that such a drop may not pass more than 10%.

Bitcoin

BTC

$111,116

returned above $111,000 into Sunday’s weekly close as analysis saw “promising” recovery signs.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

BTC price “logical” bounce zone near $100,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining about 1% on the day to hit local highs of $111,369.

The pair’s latest dip, which followed US macroeconomic data, saw bulls preserve $110,000 support.

“This is actually promising on $BTC,” crypto trader, analyst and entrepreneur Michaël van de Poppe responded on X.

“It makes a new higher low and holds the support at $110K. Would be great if we crack $112K and fire up the bull run.”