Bitcoin recovers to $110,000 after correction from record high
Bitcoin price has extended its recovery into the new week, rising above the previous two days’ high to touch $110,000 during Monday’s European session.
This comes after a sharp 4% drop earlier in the weekend, where price formed a strong bearish engulfing candlestick pattern, also regarded as a bearish order block. This pattern emerged after an exceptional seven-week bullish streak that had lifted Bitcoin more than 50% from April’s low near $74,500 to last week’s record high of $112,000.
Highlights
- Bitcoin tests supply zone after weekend dip
- Overbought RSI adds weight to short-term indecision
- Break above $112,000 may trigger run towards $120,000
Despite overbought readings on the daily RSI since mid-May, the bulls continued to push higher, showing resilience through momentum. However, the recent sharp weekend reversal introduced short-term pressure that disrupted the vertical rally. This shift in price action is now forcing traders to assess whether Bitcoin is preparing for consolidation or staging another extension of the uptrend.
BTC price dynamics (Nov 2024 - May 2025). Source: TradingView
The current bounce off the weekend lows found technical support around $106,900, which aligns closely with the 50-period EMA on the 4-hour chart. This level absorbed the weekend decline and served as a near-term pivot for today’s push. However, price action now finds itself once again testing the supply zone created by the bearish engulfing formation near $112,000. This area could cap further gains unless significant buying pressure re-emerges.
Bitcoin volume dries up as market floats between $108,000 and $111,000
Trading volume over the past five sessions has gradually declined, suggesting a lack of strong conviction from both sides. Buyers appear to be scaling out of long positions, while potential sellers hesitate to commit against an aggressive uptrend. The stalling recovery over the weekend near $109,600 further highlights market indecision at these high levels.
If Bitcoin fails to clear last week’s high, consolidation around the $108,000 to $111,000 range could follow. But a decisive breakout beyond $112,000 would invalidate the bearish order block and open the door for a run towards $120,000 in the coming sessions. The move would confirm trend strength and could entice sidelined buyers back into the market.
In summary, Bitcoin’s current posture reflects both technical and psychological strain near record highs. Price is now stuck between strong support from the 4-hour EMA and visible supply pressure at the top. This range is likely to define early week direction before momentum picks a side.
Bitcoin stayed above $110,000 after hitting a record high near $111,921 as bulls slowed down. RSI overbought signal eased lower while price held above short-term EMA support.
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