Bitcoin Trapped On Binance: The Battle Between $107K and $119K Heats Up

Bitcoin is struggling to determine a transparent route as volatility tightens and merchants face rising uncertainty. After weeks of indecisive motion, short-term value motion stays uneven, leaving each bulls and bears with out conviction. According to new insights from CryptoQuant, a complete evaluation combining Price Action, Volume Profile, and Liquidation Heatmap knowledge from Binance reveals that Bitcoin has been locked in a well-defined buying and selling vary for the previous 120 days.

The report highlights that this vary is centered between $107,500 and $119,300, with the Point of Control (POC) — the extent the place essentially the most buying and selling quantity has occurred — sitting close to $117,500. Despite a number of makes an attempt to interrupt larger, BTC has repeatedly did not maintain momentum, falling again into this vary every time. Analysts counsel this sample displays a market in stability, ready for a catalyst to interrupt decisively in both route.

Within these boundaries, Bitcoin merchants are intently monitoring liquidity clusters and key quantity zones to anticipate the following massive transfer. Whether BTC reclaims larger floor or exams decrease helps, the breakout from this 120-day vary may outline the following main part of the cycle.

Bitcoin Faces a Crucial Test on the Point of Control (POC)

According to CryptoOnchain’s newest analysis on CryptoQuannt, Bitcoin’s latest breakout try above its 120-day buying and selling vary has failed to realize traction, forming what analysts name a traditional “Look Above and Fail” sample. The transfer initially triggered a brief squeeze that liquidated many sellers on Binance, briefly pushing the value larger. However, the rally rapidly misplaced power as a result of inadequate follow-through shopping for, main BTC to fall again into its established vary — an indication of underlying market weak point.

At current, Bitcoin is hovering slightly below the crucial Point of Control (POC) close to $117,500 — the value degree the place the most important buying and selling quantity has occurred. This degree now acts as the important thing battleground for the following main transfer.

In the bullish state of affairs, a confirmed breakout above the POC may flip this zone into assist and pave the way in which for a retest of the Value Area High (VAH) round $119,300. Such a transfer may additionally set off quick liquidations, driving BTC towards the buy-side liquidity zone sitting above $120,000.

In the bearish state of affairs, continued rejection from the POC would level towards renewed promoting stress, focusing on the Value Area Low (VAL) close to $107,500 — the place vital stop-losses and lengthy liquidations stay clustered.

Bitcoin Bears Defend the $110K Zone

Bitcoin is as soon as once more struggling to reclaim momentum after failing to interrupt via resistance close to $111,000. The chart reveals that BTC stays trapped under key shifting averages, with the 50-day SMA appearing as a dynamic ceiling round $112,000 and the 100-day SMA close to $114,000 reinforcing bearish stress. Meanwhile, the 200-day SMA, presently positioned round $107,000, is offering short-term assist — a crucial line that bulls should defend to keep away from deeper losses.

The market construction signifies that BTC continues to commerce inside an outlined vary between roughly $107,000 and $117,500. Recent value motion has been characterised by failed breakout makes an attempt and sharp pullbacks, highlighting indecision and low conviction amongst each bulls and bears.

A sustained transfer above the $111,000–$112,000 zone may open the trail for a check of $117,500, which has repeatedly acted as a serious resistance degree since August. However, a breakdown under $107,000 would doubtless speed up promoting stress towards the $103,000 space — the flash-crash low from earlier this month.

For now, Bitcoin stays in consolidation, with market contributors awaiting a decisive breakout to substantiate whether or not the following main transfer will probably be a bullish reversal or a continuation of the present downtrend.

Featured picture from ChatGPT, chart from TradingView.com