Bitcoin (BTC) Bulls Target $113,000 Resistance: Breakout Ahead?

The Bitcoin bulls are currently helping the $BTC price to drill through the important $113,000 horizontal resistance ￰0￱ this level can be surpassed and confirmed as support, the next task would be to break out of the ascending channel formation, and make a higher high beyond $117,400. $BTC changing back to bullish mode We are only 9 days into September and that is also the time since the $BTC price switched into bullish ￰1￱ descending channel that encompassed the price since its all-time high of $124,000 was only 18 days long, but for many it seemed like an eternity, and for some it was as if Bitcoin had been to the top and that now it was going to descend into a huge correction, or even into a bear ￰2￱ course, one only has to remember that monetary easing is ongoing across the world and that the US will potentially be entering a rate cut cycle as soon as next ￰3￱ least for the next several months Bitcoin is likely to be in a benign monetary ￰4￱ it make hay? $BTC meets important $113,000 horizontal resistance).

These have now been turned into support. A formation that can be seen to be relevant now is an inverse head and shoulders ￰5￱ neckline for this also happens to be the $113,000 horizontal resistance, so this puts even more on the line for a breakout or ￰6￱ solid bull market stair step is forming