- Bitcoin faces pressure as it consolidates between $110k and $120k with traders split between profit-taking and holding strong support.
- Analysts highlight $114k as the key level to defend since breaking this support could shift momentum toward a deeper correction.
- Despite short-term selling, Bitcoin’s higher highs and strong recovery from $107k reveal continued structural strength in the trend.
Bitcoin’s price action has entered a crucial stage as it tests critical resistance levels. On Coinbase, Bitcoin trades at $115,249.02, marking a daily gain of 3.71%.
This rally follows an extended uptrend from September 2024, when Bitcoin climbed from $60,000 toward new highs. Since then, price movements have created strong bullish momentum while also inviting caution from prominent analysts.
Doctor Profit, a well-followed trader on X, argued, “Bitcoin is finally back in the sell/short zone, time to take profits.” He emphasized reducing spot exposure and increasing shorts, noting his portfolio currently sits at 80% USDT and short, with only 20% in spot holdings.
Weekly and Daily Charts Show Diverging Signals
The weekly chart reveals Bitcoin’s steady climb since September 2024, with sharp rallies in October and November and a dramatic surge in March 2025. Price reached highs of $122,000 mid-year before facing rejection at the marked “sell zone.”
Upper shadows on candlesticks confirm strong selling interest near those levels. Current consolidation between $110,000 and $120,000 reflects indecision, with a potential downside target near $90,000.
However, daily charts show more resilience. According to Rekt Capital, Bitcoin needs to stay above ~$114,000 to build stability around the current weekly close. He explained, “Going forward, Bitcoin simply needs to stay above ~$114k as it heads into the new Weekly Close.”
This level aligns with a key pink support zone around $113,000. Recent green candlesticks also suggest buyers remain active after the August correction that dropped the price to $107,000.
Furthermore, despite short-term weakness, significant structural momentum is shown by breakout points and consistently higher highs.
The strength of Bitcoin’s defense of $114,000 may determine whether consolidation ends on an upward trajectory or leads to a more significant decline toward $90,000.
