Bitcoin is still wrestling with resistance at $111,500, and the market is waiting for a catalyst to ignite the next big move.
๐ Current Market Snapshot
$BTC is consolidating near $111K after a rebound above $110,500.
Trading remains below the 100-hour SMA.
A strong support zone sits around $110,500.
๐ข Bullish Case
If Bitcoin can close above $112,580, momentum may build toward $113,500 and even $115,000. Clearing these levels could open the door for another rally.
๐ด Bearish Case
Failure to break $112,000 could bring another pullback. Key supports to watch:
$110,500 (trendline support)
$110,000 (psychological level)
$109,350 โ $108,500 (deeper downside risk)
๐ Indicators
MACD: Weakening but still in the positive zone.
RSI: Hovering below 50 โ signaling hesitation among buyers.
๐ In short: $BTC is stuck in a tight zone. A decisive move above $112,580 may kickstart a rally, but losing $110,000 could flip sentiment bearish fast.
๐ก Traders should stay alert โ this range wonโt hold forever!
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