After a sharp recovery to $111.78K, Bitcoin is now stabilizing in a narrow range between $110.4K and $111.8K. This sideways movement occurs as traders assess key liquidation levels and market structure on short timeframes.
Key Support and Resistance Levels
Current support levels:
* **$110.8K:** First line of defense, showing active bid absorption. * **$110.4K:** A solid support level. * **$109.8K:** Critical liquidity zone if current support fails.
Resistance levels:
* **$111.2K:** Near-term liquidity band. * **$111.5K:** Level where stacked sell orders are capping bounces. * **$111.8K:** Recent local high, breakout above could trigger upside momentum.
Market Structure Analysis
According to footprint charts, buyer activity is consistently observed at the $110.8K and $110.4K levels, indicating bulls remain in control as long as prices stay above support.
Moreover, the market structure remains constructive with higher lows forming after the recent rally. The SuperTrend indicator shows a bullish bias despite slight pullbacks.
Market Outlook
If Bitcoin can break above the $111.5K level, further gains towards $111.8K may follow. However, if $110.4K fails to hold, it could lead to deeper corrections. The current consolidation phase is a battleground between short-term buyers and sellers, with liquidation zones acting as magnets for price action.
In summary, Bitcoin remains in a consolidation phase, and future price movements will depend on the ability to hold key support levels, creating opportunities for short-term traders.
