Bitcoin (BTC) has bounced from key support levels but on-chain data and technical indicators suggest heavy selling pressure near the $113,600 zone.
After a volatile week, BTC/USD is currently trading around $113,200, rebounding from the green demand zone between $110,000 and $111,000. The recovery comes after several sessions of weakness, but charts show a clear descending channel pattern, signaling that the broader market remains cautious.
The red supply zone near $113,600–$114,000 is emerging as the critical resistance level for bulls. Analysts warn that unless Bitcoin clears this level with strong volume, upside momentum will likely stall. The failure to sustain above this barrier could lead to another pullback toward the $110,000 support region, with deeper risk extending to the $106,000 zone if selling intensifies.
“Bitcoin’s bounce looks technically healthy, but the overhead resistance at $113.6K has proven sticky. Without a decisive breakout, we could see another leg down, especially if profit-taking accelerates,” According to BITX market strategist .
Despite near-term challenges, the green support block between $110,000 and $111,000 has so far held firm, attracting dip buyers and stabilizing price action. Technical traders view this level as pivotal in maintaining bullish structure.
“As long as BTC holds above $110K, the broader uptrend remains intact. However, repeated rejections at $113.6K highlight seller dominance in the short term,” BITX analyst explained.
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.