Bitcoin (BTC) is currently trading within a range, supported at $112,000 and resisted at around $118,000. Market trends and volumes require careful analysis.
Defining the Resistance Range
Bitcoin's recent move followed testing the lower boundary of the $112,000–$113,000 support zone. Buyers stepped in, pushing prices above $115,000. However, recovery stalled as it approached the $117,000–$118,000 range. Alpha Crypto Signal noted that this move resembles a dead cat bounce rather than the start of a new uptrend.
Market Volume and Trading Behavior
Volume patterns reinforce caution for bullish traders. While the latest data indicates strong buying reactions, the overall trend suggests otherwise. Sell-offs have consistently been accompanied by higher volumes compared to rallies. This imbalance highlights seller dominance in the market. Daily trading volume increased by 46% to $83.68 billion.
Potential Strategies for Traders
From a structural perspective, BTC is likely to trade between $112,000 support and $118,000 resistance. This consolidation phase may persist before the market selects its next direction. Alpha Crypto Signal recommends preparing short positions during pushes toward $118,000–$120,000.
Bitcoin continues to face pressure from both sides, with support at $112,000 and resistance at $118,000. Traders are advised to monitor changes in volumes and price movements.
