Current Market Situation
Current price: around 112,575 USD, down about 2.36% from the previous close.
Bitcoin is experiencing a corrective phase or sideways oscillation after reaching its highest level in August (around 124–124.5 k USD).
Key Support and Resistance
Barchart platform indicates:
First Resistance: 119,035 USD
First Support: 113,303 USD
Second Support: 109,624 USD.
TipRanks highlights classic pivot points – important support and resistance:
Support S1 ≈ 111,359 USD
Resistance R1 ≈ 114,207 USD
Additional resistance up to R3 ≈ 117,055 USD.
FX Leaders (Instant Indicators) estimate support at: 114,700 – 114,200 USD and resistance at: 116,000 – 116,500 USD.
Investopedia (Previous Analysis):
Strong support at: circa 107,000 USD (considered the 50-day average)
Important Psychological Level: 100,000 USD
Potential bullish target: 146,400 USD representing a 32% increase from current levels.
Quick Summary:
Type Level (USD)
Central Support ~111,300 – 113,300
Core Support ~107,000 (50-day average) and 100,000 psychological level
First Resistance ~114,200 – 116,000
Strong Resistance ~119,000 – 124,500
Long-term Target ~146,400 (if resistance is broken and momentum continues)
Momentum indicators and overall technical condition
Investing.com (Bitfinex) gives an overall rating: "Strong Sell" daily, especially based on indicators like RSI (~33 – Sell), and prices are close to overbought/sold levels.
TipRanks shows diverse technical signals:
RSI Indicator ≈ 48 (Neutral)
MACD is negative but gives a Buy signal.
The 5-day moving average shows "Buy," while longer averages show "Sell" or "Neutral."
Market Behavior:
People's match profits above the historical peak at 124 k, then pulled profits before Powell's speech, leading to a ~10% drop from the top.
Bitcoin is in a consolidation phase below the 116k level, amid economic pressures and an inability to break this level to maintain the trend.
Despite caution, there are bullish prospects from analysts like Bernstein who expect the bull market to continue until 2027 and could reach 200k within 6–12 months.
My Personal Position
"I am currently in a neutral/consolidation position with the readiness to act comfortably depending on the next level break. If Bitcoin maintains its support around ~113k and breaks its resistance at ~116k firmly — I see it as a clear new bullish opportunity. However, if it breaks 111–113k under pressure, it could start descending towards 107k or even the larger support at 100k.
I closely monitor the RSI and 5-day moving average; a return above the short averages (5–10 days) could be the beginning of a reversal. Of course, I am closely watching any statements from the Fed (like Powell's speech) as these events can give a strong boost to the market.
Vision Summary
Short-term trend: Neutral to slightly bearish.
Strong support between 111k – 113k.
Main Resistance between 114k – 116k, breaking it could lead to levels 119k +.
Mixed technical indicators ("Sell" signals but also signs of a potential rebound).
The long-term bullish scenario could reach 146k — but requires stability against current obstacles.
$BTC #BNBATH900 #FamilyOfficeCrypto
