Bitcoin is trading around $115,400 after reaching the key level of $115,000, and a technical rebound is likely imminent in the coming hours, reaching the 21SMA around $118,350.
If Bitcoin continues its decline, we should expect consolidation below the 5/8 Murray, then BTC could reach $113,519 around the 200 EMA and the 4/8 Murray around $112,500.
On the other hand, the eagle indicator has reached oversold levels, so Bitcoin is more likely to continue recovering in the coming days as long as the price consolidates above $115,625.
Key support levels to consider are around S_3 at $114,800, the 5/8 Murray at $115,625, and finally the 200 EMA at $113,519.
Immediate resistance is located at 117,096, 118,200, and finally at the 6/8 Murray around 118,750.
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