Bitcoin closed just below $112,000 yesterday, once again underscoring the significance of this level as the key resistance in the current structure. That zone has been the battleground for weeks now – and while bulls have managed to defend support around $108K-$109K, they’ve yet to prove they can flip $112K into support.
The pattern is becoming increasingly clear: unless BTC can push and hold above $112K, it risks putting in another lower high. Sellers continue to step in at this level, keeping upward momentum capped and forcing price to oscillate within a narrowing range.
On the downside, the shaded support region at $108K-$109K remains the line in the sand for bulls. A breakdown there would expose the long-term trendline and major support closer to $101K. Until then, Bitcoin is trapped in a well-defined range, with $112K as the ceiling that must break to shift momentum decisively back in favor of the bulls.
