Bitcoin May Test $113,000 After False Breakout as Sideways Trading Near $113k–$117k Appears Possible

• Bitcoin price up 1.54%: BTC remains range-bound $113k–$117k.

• Short-term bias depends on daily close relative to $114,462 resistance and $113,000 support.

• On higher timeframes momentum is bullish, but buyers need accumulation to drive fresh upside.

Bitcoin price update: BTC/USD trades near $114,334 after a 1.54% gain. COINOTAG analysis of support, resistance and short-term outlook — read the full market brief.

All top 10 coins are again in the green zone, according to CoinStats.

Top coins by CoinStats

BTC/USD

Bitcoin price rose 1.54% since yesterday and is trading at $114,334 at press time. Market data from CoinStats show a broad short-term recovery across major caps.

Image by TradingView

Despite today’s intraday gain, BTC pulled back after a false breakout above the local resistance at $114,462. If the daily bar closes near the lower boundary, the market could retest the $113,000 zone within hours to days.

Image by TradingView

On higher timeframes, focus on where the daily candle closes relative to yesterday’s peak. A close near or above that high would increase the probability of continuation toward the $115,000–$116,000 range over the coming days.

Image by TradingView

From a midterm perspective, momentum favors buyers, but the price remains distant from major support and resistance, implying that additional accumulation is likely before a sustained directional move.

All in all, sideways trading in the $113,000–$117,000 band remains the most probable scenario while market participants await clearer daily closes and volume confirmation.

Why did BTC fail to hold the breakout?

False breakouts often occur when liquidity is thin or when sellers absorb aggressive buys at established resistance. Here, the $114,462 level acted as a local supply zone; a lack of sustained buying pushed price back toward support.

How should traders interpret daily closes?

Daily candle closes provide a reliable bias signal. A close above resistance increases the chance of follow-through; a close near support suggests a retest. Use volume and multi-timeframe alignment to confirm moves.

Frequently Asked Questions

What are the immediate support and resistance levels for BTC?

Immediate support is at $113,000 and immediate resistance at $114,462. A sustained close above resistance targets $115,000–$116,000; a break below support may lead to deeper consolidation.

How can I use COINOTAG analysis for trading decisions?

COINOTAG analysis highlights levels, momentum, and likely scenarios. Combine these insights with risk management: set stop-losses, size positions, and confirm with volume indicators.

Key Takeaways

• Bitcoin price is near $114,334: BTC gained 1.54% but remains range-bound.
• Daily close matters: Close above $114,462 favors $115k–$116k; close near support risks a $113k test.
• Midterm bias: Momentum is positive but requires accumulation for further upside; trade plan should reflect range conditions.

Conclusion

This COINOTAG brief shows Bitcoin price trading in a defined short-term range. Monitor the daily close around $114,462 and $113,000 for directional signals. Use conservative position sizing and volume confirmation to act on the next meaningful move.