Bitcoin’s been moving sideways lately, and right now it’s caught in a pretty tight space between $112K and $116K—a price zone that could make or break the next rally – www.naijnaira.com reports.
Crypto analyst Marc Cullen pointed this out with a chart showing Bitcoin stuck in what’s known as a “fair value gap.”
The chart shared by The Crypto Basic breaks down how BTC’s current range is acting like a pressure cooker: one strong move in either direction could flip everything.
Cullen thinks if BTC clears $116K and holds firm, the market might see a bullish surge toward $130K or beyond, possibly even setting new all-time highs.
“If we break and hold above $116,000, that changes everything,” Cullen noted.
Right now, Bitcoin is trading around $114,324, climbing slightly after dipping 4% last week.
The bounce looks promising, but if bulls lose grip on $112K, the downside risk opens fast, and $100K becomes the next key zone.
Cullen warned that if Bitcoin drops below the weekend low near $112K, it could fall back into its old trading zone, which increases the chances of a slide.
The bearish route would kill any short-term bullish hopes and might bring heavy selling pressure.
Another voice in the mix, Michael Van De Poppe, says BTC is sitting right on a major accumulation zone—between $110K and $112K—and believes it’s a good entry for long-term holders.
He highlighted nearby resistance at $114,755, $116,813, and $119,504—levels that could shake things up if BTC pushes through.
Van De Poppe thinks holding this range could pave the way for a longer climb over the next 6 to 12 months.
Meanwhile, Crypto Michael shared a long-view chart that tracks Bitcoin’s eight-year trendline, which BTC is now retesting from above.
That same trendline, which used to act as resistance, might now flip into support, possibly fueling another big leg up.
BTC recently hit a record high above $123K before pulling back, and this retest may confirm whether the rally has more legs.
Veteran trader Peter Brandt added that we could see a cycle top between $125K and $150K sometime in Q3—if Bitcoin reclaims its long-term trendline.
Also worth noting: volatility is at some of the lowest levels seen in years, often a signal that a sharp breakout could be around the corner.
Article updated 4 weeks ago. Content is written and modified by multiple authors.
