BTC Must Reclaim $112K to Signal Bullish Momentum
Bitcoin remains within a megaphone pattern but must reclaim $112K to regain bullish sentiment.
- Bitcoin stays inside the megaphone pattern.
- Price dropped below key $112K support level.
- Reclaiming $112K is crucial for bullish confirmation.
Bitcoin is still trading within a widening megaphone pattern, a structure often associated with high volatility and potential breakout scenarios. However, according to traders closely observing the charts, this pattern alone doesn’t guarantee a bullish outcome. One crucial element is currently missing: the $112K support level.
Recently, Bitcoin dropped below the significant horizontal support at $112K. While some may see the broader megaphone structure as a sign of potential upside, the breach of this key level raises concerns. Historically, this zone has served as a foundation for bullish reversals, and falling below it casts doubt on immediate bullish momentum.
Until Bitcoin manages to reclaim this support, many analysts, including the one referenced in the tweet, remain cautious. Without this recovery, price action could continue to drift lower—even while staying inside the megaphone formation.
Why $112K Matters More Than Diagonal Support
In technical analysis, both diagonal and horizontal levels are monitored—but not all support is created equal. The horizontal line at $112K holds more weight than the lower boundary of the megaphone. That’s because horizontal levels often align with volume spikes, psychological thresholds, and prior consolidation zones.
A failure to reclaim $112K may indicate that bearish pressure is still strong. On the flip side, regaining this level could be the first real signal of strength—possibly setting the stage for a move higher.
Until that happens, however, the market remains in a wait-and-see mode. Traders are advised to monitor price action closely and not assume bullishness based solely on patterns without the support of critical levels like $112K.
Read Also :
- From $100 to $5 Million? Zero Knowledge Proof Giveaway Sparks Interest While Dogecoin Strengthens & Chainlink Builds Infrastructure
- Bitmine Immersion Technologies (BMNR) Announces ETH Holdings Reach 4.168 Million Tokens, and Total Crypto and Total Cash Holdings of $14.0 Billion
- Tether Freezes $182M in TRON-Based USDT
- Ethereum and Pepe Hold Steady, but BlockDAG Eyes Massive 1000x Profits After February Listing
- Bitcoin Lags as Gold and Silver Hit Record Highs
