Bitcoin (BTC) Price Must Break $116,800 to Go “Explosive,” Says Top Analyst

• Bitcoin’s price is retesting a major macro trendline that dates all the way back to 2017.
• Analysts see the $110K-$112K zone as a critical support and accumulation level for BTC.
• The key resistance to break for a new rally is $116,800, according to the charts.

Leading market analysts are growing more optimistic about Bitcoin, suggesting the stage is being set for a major bull run in the second half of the year. While the price has seen a nearly 4% pullback over the past week, now trading around $114,168, a closer look at the charts reveals a potentially explosive setup.

Despite the pullback, technical indicators and market sentiment hint at a potentially explosive upward move if critical resistance levels are overcome and support zones hold firm. With volume climbing and momentum shifting, the market seems poised for a new phase.

Related: US Dollar Index (DXY) Plunge Pushes Bitcoin to $115,000 as Fed Rate-Cut Speculation Heats Up

Resistance Levels Hold the Key

Michaël van de Poppe believes the market structure is aligning beautifully for a bullish surge, but he emphasizes caution. Bitcoin recently bounced from the $110K–$112K zone, showing that dem…

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