
On the daily chart, bitcoin’s trajectory reveals a continuation of a short-term uptrend initiated from the $98,240 support level. Price action recently peaked at a local high of $112,040, supported by a bullish engulfing pattern and heightened volume, suggesting the breakout was fundamentally strong. However, subsequent candle formations exhibit indecision, with smaller bodies indicating waning momentum. This pattern implies a potential reversal zone around the $112,000 level, warranting caution from traders awaiting confirmation. Daily chart indicators still lean bullish, but the momentum’s deceleration introduces uncertainty in the immediate outlook.