BTC faces strong resistance at $115K; a breakout could lead to a $118K test.
Whale accumulation and ETF inflows support Bitcoin’s price above key $112K support.
Technical signals like RSI divergence suggest bullish momentum could resume if $115K is cleared.
Bitcoin continues to face strong resistance near the $115,000 level, which has limited further upside despite recent bullish momentum. After reaching an intraday high of $114,750, BTC pulled back slightly but remained above key support levels. The next resistance at $118,000 remains in focus, pending a confirmed breakout above $115,000.
Descending Channel Structure Holds as Price Awaits Breakout
According to analysis prepared by Captain Faibik, Bitcoin is trading within a descending channel, with price rejecting both the upper and lower boundaries. This pattern began after a strong rally and is marked by a series of lower highs and lower lows.
https://twitter.com/CryptoFaibik/status/1952234110778294362
The latest bounce from the lower trendline indicates that bulls are defending key levels. Bitcoin is currently trading around $114,118, up 0.38% in the last 24 hours. The 20-day EMA near $112,000 continues to act as a support zone, providing stability during short-term pullbacks.
Momentum started to pick up again after a recent cooling-off period, following Bitcoin’s cycle high of $123,500 in July. A bullish divergence between price and the RSI suggests growing buying interest. If BTC can break and hold above $115,000, a move toward the $118,000 resistance could follow soon.
Whale Activity and ETF Inflows Support Price Stability
According to Glassnode, institutional interest has returned as U.S. spot Bitcoin ETFs saw renewed inflows in late July. The inflows have contributed to the current conditions of Bitcoin maintaining prices above $112,000 supporting short-term bullish structure. The volume-to-market cap ratio stands at 2.1%, showing moderate activity.
On-chain data also indicates increased whale accumulation. Large wallets holding more than 1,000 BTC have added over 45,000 BTC in the last two weeks. This behavior aligns with previous accumulation phases that came before upward movements.
According to an observation by Lau, Bitcoin surged 34% after its August breakout, then consolidated before reaching $123,000. She added, “This isn’t noise, it’s a trend.” If BTC holds above $112,000, the $150,000 target for Q4 2025 remains possible.
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