Bitcoin Buyers Test $112,775—Will Bulls Break Free or Face Another Stall?

Bitcoin's price has shown signs of volatility following a recent false breakout on the hourly chart, with the cryptocurrency currently trading near $112,800. According to CoinStats, the price has fallen by 0.31% since yesterday, indicating a cautious market sentiment. The false breakout occurred at a local resistance level of $112,579, and while the immediate direction is uncertain, a successful close above this level could signal further bullish movement toward the $113,000 zone.

The longer-term outlook suggests potential for a test of the $113,645 level, which, if breached, could see Bitcoin pushing toward $116,000. This development would hinge on the strength of buyer momentum and the ability of bulls to maintain their position after the false breakout. Analysts note that the accumulation of buying pressure is evident, but the market is still assessing the strength of this initiative.

Midterm analysis indicates that Bitcoin is currently in a consolidation phase, with the price fluctuating between $111,000 and $114,000. This sideways movement is typical following breakout attempts and is often attributed to liquidity and trader positioning. The market has yet to confirm a clear direction, and the focus remains on daily closes to determine whether the recent momentum is sustainable or temporary. If the daily bar fails to close above $112,775, traders may expect a return to the $111,000–$115,000 range within the next 24–48 hours.

Traders are advised to monitor key levels, including the immediate resistance at $112,775 and the target resistance zone between $113,000 and $116,000. The support levels at $107,389 and $111,000 remain crucial as they define the boundaries of the current trading range. A breakout above $113,645 would indicate strong buyer control, while a failure to break through could lead to further consolidation.

In the short term, the market is in a period of consolidation as traders await confirmation of the breakout's validity. The accumulation of buying pressure, as noted by on-chain data from CoinStats, suggests that buyers are still active but have not yet secured a decisive move upward. This cautious behavior is typical in markets where liquidity is shifting or where trader positioning is uncertain. Traders should remain attentive to volume and on-chain indicators, as these can provide early signals of a potential breakout or reversal.

Looking ahead, the next key event will be whether Bitcoin can maintain a daily close above $112,775. A confirmed close above this level would increase the likelihood of a move toward $113,000 and eventually the $116,000 resistance zone. However, without confirmation, the price is likely to remain within the $111,000–$115,000 range as buyers continue to test and accumulate strength. Analysts emphasize the importance of managing risk, particularly around the $111,000 level, which serves as a critical support point for the current trading range.