$BTC is currently trading near the upper Bollinger Band at 111776.62.
This proximity suggests potential overextension, indicating a resistance test around 111980.
Conversely, a drop towards the lower band (110478.23) could reveal buying opportunities near strong support at 110407.89.
Volatility appears to be contracting, signaling a potential breakout or breakdown ahead.
Traders should consider placing stop-loss orders just below support levels to manage risk.
Recommended action: wait for clear breakout confirmation before entering trades, or set alerts for key levels.
