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Bitcoin sellers put a cap on $112,000, but technical, onchain data and the end of October US macroeconomic calendar suggest that the price compression will trigger a violent expansion.
💡 DMK Insight
Bitcoin’s struggle at the $112,000 mark is more than just a resistance level—it’s a pressure cooker waiting to explode. With sellers consistently capping gains, traders should be paying close attention to the technical indicators and on-chain data suggesting that this price compression could lead to a significant breakout. The end of October brings key macroeconomic events that could serve as catalysts, potentially shifting market sentiment. If Bitcoin can break above $112,000, it could trigger a rush of buying, while failure to do so might lead to a sharp pullback. Watch for volume spikes and momentum indicators on the daily charts; these will be crucial in gauging the strength of any breakout. Keep an eye on correlated assets like Ethereum, as movements in Bitcoin often influence altcoin trends. The real story is how traders react to these levels—are they ready to buy the breakout or will they sell the failure? Either way, volatility is on the horizon, so be prepared for rapid price movements.
📮 Takeaway
Monitor Bitcoin’s price action around $112,000; a breakout could lead to significant upward momentum, while a failure may trigger a sharp decline.
