🟠 Why couldn't Bitcoin stay above US$ 115,000?
Bitcoin (BTC) rose nearly 5% last week but was rejected near US$ 115,000, frustrating the breakout and continuous rise expectations.
🔍 What happened?
Between October 25 and 28, large investors moved over 10,000 BTC to exchanges, according to CryptoQuant — a strong signal of profit-taking and hedging.
Accounts with 100–1,000 BTC increased transfers from 1,046 → 7,191 BTC.
Whales with 1,000–10,000 BTC added another 3,250 BTC to the exchanges.
This extra supply emerged just as BTC was testing US$ 115,000, halting the advance and causing technical rejection.
📈 Why is the outlook still optimistic?
Despite selling pressure, the holder accumulation rate (HAR) from Glassnode remains at 60.2%, indicating that long-term investors continue to buy.
This absorption helps to contain stronger declines and keeps the bullish structure intact.
📊 Current technical pattern:
The
$BTC forms an inverted head and shoulders, typical of bullish reversals.
Critical support: US$ 106,600
Key resistance: US$ 115,000
As long as the price stays above support, the pattern remains valid.
A decisive close above US$ 115,000 could pave the way for US$ 117,300 and US$ 125,900, which would represent a potential rise of 11%.
On the other hand, a loss of US$ 106,600 would invalidate the bullish scenario and could push BTC down to US$ 103,500.
💬 In summary:
The rejection at US$ 115,000 was caused by whales selling, not by structural weakness.
As long as support holds, the bullish bias remains alive — and the next breakout attempt could be stronger.
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