Attention, my people! 🚨 Bitcoin is in a giant chess game and every move counts. Right now, it is clinging tooth and nail to the $112,000 line. This number is not a coincidence; it is the key support that could decide whether we continue rising or face a serious drop. The million-dollar question is: is this a bull's breath or a bear's kick? 🐂🐻

Bull market pause or has the party ended? 🧐

Bitcoin is operating in a tight range between $109,000 and $112,000. CryptoQuant analyst Burak Kesmeci made it clear: a weekly close above this zone clears the way for upward movement. But a close below... and we are heading for a correction that could be intense.

The levels that decide everything:

  • $117,300: The short-term resistance, where those who bought higher might sell to exit without losing too much.

  • $112,000: The current decision point. If it holds, it could look for higher levels.

  • $92,400: The support in case things get ugly. A point of no return if we drop.

The signals that have us all on edge 😬

  • Supply in profit: 90% of Bitcoin is no longer in profit, a metric that has historically been a precursor to corrections. It's a red alert! 🚩

  • Selling pressure: The 'whales' and institutions are selling through ETFs. Even Ethereum ETFs are experiencing more inflows than Bitcoin ones! 💸

  • Low volume: The transaction volume is low, far from the peaks of activity seen in the market. This indicates that there is not enough buying strength to push the price up with conviction. 💨

But not everything is drama! The light at the end of the tunnel 💡

Despite the sales and alarming data, there are reasons for optimism. The unrealized loss of Bitcoin investors is only 0.5%, a figure that is far from the 30% that marks a bear market. This means that most of those holding Bitcoin are still in profit, giving them the patience not to sell in panic. Moreover, large companies and corporations are accumulating Bitcoin at a rate four times faster than it is being mined, a sign of brutal confidence. 📈

What to expect now? 👀

Analyst CryptoNewton says that if the price stays above $112,000, the next targets are $115,000, $118,000, and $124,000.The daily chart shows that Bitcoin has just hit a new all-time high and is now in a testing phase before its next move. The RSI (a momentum indicator) is rising from a neutral zone, suggesting it might be regaining strength.

So, the fate of Bitcoin is being decided these days. Either we consolidate for a new epic rally, or we prepare for a pullback. We need to stay alert. This is just beginning.$BTC