Bitcoin is currently undergoing a crucial test of its $112,500 support level, a zone analysts identify as a potential ‘reload’ opportunity for buyers.
Simultaneously, the digital asset faces strong resistance near $115,675, a barrier that has repeatedly capped upward moves and prevented sustained trading above $115,000. This resistance level signals caution among market participants.
Significant liquidity clusters exist above $125,000 and in the vicinity of $106,000.
These zones are seen as key influences, potentially triggering a price surge towards $132,500 if momentum shifts positively, or a drop back to the $106,000 level if the current support fails.
The ongoing retest of the $112,500 threshold follows what was interpreted as a bullish breakout pattern earlier.
Market observers indicate that a successful hold of this support could pave the way for renewed upward pressure.
The cryptocurrency’s next major directional move is anticipated to hinge critically on prevailing market momentum and structure.
Traders are closely monitoring volatility indicators and key liquidity zones to gauge Bitcoin’s trajectory in the near term.