Traders eye breakout levels as BTC consolidates between resistance and support zones
Bitcoin (BTC) is currently trading around $111,269, showing resilience after defending the $108,000–$109,000 green support zone, according to the latest 4-hour chart structure. The price action remains within a descending channel, with investors closely watching for signs of a breakout.
The chart highlights that Bitcoin has consistently rebounded from the green demand zone near $108,000, suggesting strong buyer interest at lower levels. On the upside, the red resistance zone around $121,000–$123,000 remains a significant hurdle for bulls.
“The $108K level is acting as a line in the sand for Bitcoin, with repeated defenses confirming strong institutional demand,” noted  BITX market analyst. “If BTC breaks above $114K decisively, we could see momentum toward the $120K range.”
Bitcoin’s price remains trapped in a downward-sloping channel, marked by lower highs and lower lows. However, the current consolidation above $111K indicates that sellers are losing strength.
Technical traders suggest that a break above the descending channel resistance could trigger a rally toward $118K–$120K, while a rejection may drag the price back toward the $108K support.
Trading volumes have remained moderate, signaling caution among market participants. Despite the short-term downtrend, analysts emphasize that Bitcoin’s higher timeframe structure remains bullish, provided the support zone continues to hold.
“As long as BTC trades above $108K, the bias remains constructive. A daily close above $114K would be the first confirmation of renewed bullish momentum,” said  BITX technical strategist.
Bitcoin’s immediate future depends on whether it can break above its descending channel or sustain the $108K support zone. Traders are watching the $114K and $121K levels as decisive barriers that could define the next phase of Bitcoin’s trend.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.