The post Bitcoin Market Update: Can Recovery Rally Push BTC Price Toward $112K? appeared first on Coinpedia Fintech News
Bitcoin (BTC) price is regaining momentum after rebounding from lows near $108K, currently trading around the $109K–$110K zone. Despite a 6.5% August decline, on-chain data shows rising accumulation and strengthening support levels, keeping $112K in sharp focus. A breakout above this key resistance could spark bullish momentum, driving BTC toward $120K–$125K. However, failure to sustain gains may trigger consolidation between $98K and $105K.
As technical indicators and market sentiment align, Bitcoin stands at a critical crossroads—will bulls reclaim control, or will bears stall the recovery?
Recent Bitcoin Price Action
After slipping to two-month lows in late August, Bitcoin rebounded strongly, supported by whale inflows and increasing demand at $107K–$108K. The quick recovery into the $109K–$110K range reflects renewed buying interest, though volatility remains muted compared to earlier in the year. Traders are closely monitoring $112K as the next decisive level, where past rallies have often stalled.
Bitcoin is trading near $110,214, recovering from support at $107,274. Key resistance lies at $113,345–$114,827, with a stronger ceiling at $118,617. RSI is neutral around 43, suggesting limited momentum, while MACD shows early signs of bullish crossover, though still in negative territory. A breakout above $112K–$113K could trigger upside toward $118K, while rejection may lead to consolidation between $103,950 and $107,000. Sustaining volume inflows will be crucial for confirming a bullish reversal.
Bullish Outlook
- Resistance Breakout: A successful close above $112K would validate a bullish reversal.
- Targets Ahead: Momentum could extend toward $120K–$125K, aligning with Fibonacci extension levels.
- On-Chain Strength: Rising whale accumulation and declining exchange reserves suggest long-term confidence.
- Technical Indicators: Improving RSI and bullish MACD crossovers point toward strengthening momentum.
Bearish Outlook
- Resistance Rejection: Failure to breach $112K could reinforce bearish pressure.
- Downside Risk: A pullback may drag BTC into consolidation between $98K and $105K.
- Market Sentiment: Weak macro conditions or ETF outflows may dampen recovery.
- Caution Zone: Sustained rejection near $112K could signal another corrective phase before the next rally.
Technical Levels to Watch
- Support: $107K, $105K, and $98K
- Resistance: $112K, $120K, $125K
- Momentum Indicators: RSI near neutral levels with upside potential; MACD showing early bullish divergence.
Bitcoin’s recovery rally has put the spotlight on the $112K level, which may determine the market’s next major move. A decisive breakout could reignite bullish momentum and open the path toward $120K+, while rejection risks prolonged consolidation. With technical signals strengthening and accumulation trends supportive, BTC stands at a crucial juncture—where the battle between bulls and bears is about to unfold.
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