Bitcoin Faces Critical Battle Between $111K Support and $117K Resistance

Bitcoin’s price is currently locked in a tug-of-war between strong support near $111,000 and heavy selling pressure around $117,000, creating a narrow battleground that will likely set the stage for its next major move.

A recent data analysis by Glassnode highlights that many coins changed hands near $111K, marking a support zone where bargain hunters step in.

Conversely, a cluster of sellers awaits near $117K, aiming to take profits, which creates a resistance barrier.

This cost basis distribution suggests that a decisive break outside this price range could determine Bitcoin’s near-term trend .

Market Dynamics Signal Key Levels Ahead

Bitcoin briefly rebounded near $112,500 after an attempt to advance beyond the $116,000 mark stalled.

This seesaw pricing underscores the back-and-forth momentum in the $111K to $117K corridor.

According to technical analysis models, as long as $112,000 support holds, the upward trend remains intact.

Significantly, breaking above $120,000 is viewed as a critical threshold. Pricing Bands analysis shows that clearing this level could ease historical resistance and open the door to new all-time highs near $143,000.

The path to $143K is relatively unobstructed once Bitcoin conquers the $120K hurdle, suggesting substantial upside potential, Ali Charts on X.

Bitcoin traders also keenly anticipate the Federal Open Market Committee’s (FOMC) meeting and Chair Jerome Powell’s press conference, expecting these events to influence sentiment and price direction.

The market’s current indecision may reflect cautious positioning ahead of key macroeconomic signals.

Levels to Watch and Technical Insights

Over the past 24 hours, Bitcoin’s price oscillated between the floor of $111,000–$112,500 and the ceiling just above $116,000.

Smaller candle sizes indicate a pause in trading frenzy, signaling consolidation.

A confirmed breakout above $116,000 could pave the way to the next resistance near $119,000–$120,000, while a drop below $112,500 risks retesting the $111,000 floor.

Volume surges to nearly 22,844 BTC during peak trading times suggest strong activity near resistance levels, yet sellers continue to cap rallies at $115,600 to $116,200.

The delicate balance between buyers and sellers within this corridor encapsulates a decisive moment for Bitcoin’s immediate trajectory.

For investors and traders, this battle zone between $111K and $117K highlights critical price points to monitor.

Should Bitcoin break above $120K, momentum could accelerate toward new heights at $143,000, setting a thrilling stage for the next phase of this leading cryptocurrency’s market cycle.