$BTC /USDT.

📊 Bitcoin/USDT – Gate.io Weekly Snapshot

Current Price: $107,733.2

Open: $106,438.6

High: $111,980.0

Low: $102,075.1

Change: +$1,294.7 (+1.22%)

🔍 Technical Read

Price is facing heavy rejection just under $112,000.

$112,000–$118,000 appears to be a key resistance zone, likely from prior highs or a supply block.

Candle wicks into this zone suggest multiple rejection attempts, indicating strong seller presence.

⚠️ Critical Price Action Insight

Close above $112K (weekly) = bullish confirmation, with potential expansion toward $120K+

Failure to close above $112K = possible distribution zone, likely pullback toward $102K–$104K

🧭 Trade Idea Zone

If you’re swing trading BTC, here’s a scenario checklist:

✅ Bullish Breakout Setup

Trigger: Weekly close above $112,000

TP1: $118,000

TP2: $124,000+

SL: Below $106,000 (or tighter based on risk)

❌ Fakeout / Rejection Setup

Trigger: Price wick into $111–$112K, but closes red below $106K

Target: $102,000 then $98,500

SL: Above wick high ($112K+)

Would you like:

A clean chart with this resistance zone mapped?

A volume profile overlay or key moving averages (like 50/200W)?

BTC’s correlation to altcoins like ETH or BONK in this zone?

Let me know how you'd like to dive deeper.

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