Bitcoin Price Consolidation Holds Near $111K
Bitcoin consolidates near $111K as buyers defend dips and liquidation zones form around key levels.
- Bitcoin consolidates within a $110.4K–$111.8K range
- Buyers absorb dips above $110.8K support
- Resistance builds near $111.5K and $111.8K
After a sharp recovery that pushed Bitcoin up to $111.78K, the market is now consolidating in a narrow range between $110.4K and $111.8K. This sideways movement comes as traders assess key liquidation levels and market structure on short timeframes.
Currently, Bitcoin is holding strong around the $111K mark. The 15-minute footprint chart from Binance shows consistent buyer activity during pullbacks, with demand stepping in around $110.8K and $110.4K. This suggests that bulls remain in control as long as the price stays above these support levels.
Key Support and Resistance Zones to Watch
Support Levels:
- $110.8K: First line of defense, showing active bid absorption
- $110.4K: A shelf of solid support holding multiple dips
- $109.8K: Deeper liquidity zone, critical if current support fails
Resistance Levels:
- $111.2K: Near-term liquidity band
- $111.5K: Where stacked sell orders are capping bounces
- $111.8K: Recent local high, breakout above could trigger upside momentum
Traders are closely watching whether Bitcoin can break above $111.5K. A move above this level would likely see a push back to the $111.8K high, and possibly higher. On the downside, if $110.4K fails to hold, bearish momentum may return, targeting $109.8K.
Market Outlook: Bullish While Holding Above $110.8K
The market structure remains constructive with higher lows forming after the recent rally. The SuperTrend indicator on short timeframes remains green, signaling bullish bias despite slight pullbacks.
As long as Bitcoin maintains support above $110.8K, traders can expect consolidation with a bullish tilt. However, failure to hold the $110.4K level could open the door for deeper corrections.
Overall, the current consolidation phase presents a battleground between short-term buyers and sellers, with liquidation zones acting as magnets for price action.
Read also:
- Remember the Bitcoin November Rally of 2024?
- Cardano Price Prediction: ADA Is a Ghost Chain! Noomez ($NNZ) Is Where Real Volume Is Happening Now
- Avoiding Traps: Respect Liquidation Cascades in Crypto
- SafeWallet Overhauls Systems to Boost Security
- Zcash Surges 23%, Leads Privacy Coin Rally
