Bitcoin price is trading near $112,200 and is testing short-term resistance around $112,646; a clean daily close above that level would open a likely test of $115,000, while failure could keep the market range-bound as sellers retain control.
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Bitcoin tests $112,646 resistance today
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Hourly momentum favors bulls but midterm trend remains neutral
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Bitcoin trading at $112,221; a daily close above resistance may target $115,000
Bitcoin price near $112K; watch $112,646 resistance and $115,000 target — read latest update and analysis from COINOTAG market desk now.
What is the current Bitcoin price outlook?
Bitcoin price is trading at approximately $112,221 at press time and is the top gainer among major cryptocurrencies today. Short-term momentum is bullish near hourly resistance, but broader market structure remains range-bound until key levels are decisively broken.
How does the $112,646 resistance level affect BTC price action?
BTC has tested the $112,646 resistance on longer time frames. If a breakout occurs with a daily close that lacks a long upper wick, the next logical test is the $115,000 area. Failure to break would likely keep BTC trading in a sideways channel as sellers limit upside.
The broader crypto market remains under bears’ pressure, with a few exceptions according to CoinMarketCap (plain text source). Bitcoin stands out as the largest gainer today, rising roughly 1.45%.
Top coins by CoinMarketCap
How is intraday momentum shaping Bitcoin’s next move?
On the hourly chart, BTC shows bullish signs as it nears the short-term resistance of $113,002. If bulls maintain control, a test of the upper level could occur as soon as the next trading session.
Image by TradingView
On the longer time frame, Bitcoin has retested the $112,646 barrier. A clean breakout and a daily close without a long wick would indicate accumulated momentum sufficient for a push toward $115,000.
Image by TradingView
From a midterm perspective, neither side is clearly dominant. Weekly bars remain distant from decisive levels, suggesting buyers may need additional accumulation and time to build a sustainable trend.
Image by TradingView
Price at press time: Bitcoin is trading at $112,221.
Frequently Asked Questions
Will a close above $112,646 confirm a bullish breakout?
A clean daily close above $112,646, especially without a long upper wick, would signal a stronger bullish probability and open a path to $115,000. Confirmation should be combined with volume and market-breadth checks.
How should I manage risk near resistance levels?
Use defined stops below breakout candles, size positions to limit exposure, and consider partial profit-taking near measured targets. Prioritize risk management over aggressive entries.
Key Takeaways
- Resistance focus: $112,646 is the primary level to watch for a breakout.
- Short-term bias: Hourly momentum favors bulls, but midterm trend is neutral.
- Actionable insight: Wait for a clean daily close above resistance before assuming a move to $115,000.
Conclusion
This COINOTAG market update shows Bitcoin price testing key short-term resistance at $112,646 while trading near $112,221. Traders should watch daily close confirmation and intraday momentum; a decisive breakout could target $115,000, while failure may keep BTC range-bound. Stay updated with COINOTAG for market follow-ups.
