Bitcoin analysts say this must happen for BTC price to take out $115K
Bitcoin needs to hold the $114,000 support level and see a recovery in spot volume and onchain activity to break past $115,000.Summary
Bitcoin's recent rally stalled around $115,000 due to diminishing demand and low onchain activity. Analysts indicate that for BTC to sustain an upside continuation past this level, it must first confirm a bottom by defending the $114,000 support level, which aligns with the 200-day Simple Moving Average (SMA) and Exponential Moving Average (EMA).
Furthermore, the current recovery lacks broad participation, as evidenced by declining spot trading volume and negative cumulative volume delta (CVD) readings, suggesting aggressive selling has subsided but new buying pressure is absent. Analysts stress that a sustained breakout above $115,000 requires a significant increase in spot volume and a deepening of conviction among users, which would signal a broader accumulation phase.
Until network activity and demand broaden, Bitcoin is likely to remain in a consolidation phase, although favorable Relative Strength Index (RSI) signals and potential Federal Reserve interest-rate cuts could eventually trigger the next rally.
(Source：Cointelegraph)