#bitcoinBitcoin's recent price action has been quite impressive, and it's interesting to see the key levels to watch as it approaches the $110,000 mark. Currently, Bitcoin is trading at $116,794.19, with a market cap of $2.35 trillion.

*Key Resistance Levels:*

- *$112,000*: This is a major overhead resistance level that Bitcoin has struggled to break through since June 5. If it flips this level into support, it could continue its uptrend.

- *$109,000-$110,500*: This is a significant supply zone that the bulls will need to overcome for further gains.

*Key Support Levels:*

- *$106,000*: Bears will try to keep this resistance level in place, increasing the likelihood of a pullback.

- *$104,000*: The 50-day simple moving average sits at this level, which could provide support.

- *$102,800*: This level has acted as a support zone in the past.

- *$100,000*: A breach below this psychological level could lead to a retest of the $92,000-$93,000 range.

- *$95,800* and *$94,600*: These levels correspond to the 100-day and 200-day simple moving averages, respectively ¹.

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