Bitcoin is presently trading close to $113,000 after a minor dip earlier today to $112,300. This represents a 4% increase over the last week, although it is slightly lower compared to yesterday’s figures.

Key Price Zones to Monitor

Traders are closely observing significant price levels and await the upcoming FOMC interest rate decision to forecast Bitcoin’s next move.

Price Rebounds from Significant Support

Recently, Bitcoin has retraced back into the $111,000–$112,000 range, which once served as resistance but is now acting as support. The price has moderately bounced back, surpassing $113,000 once more.

Analyst Michaël van de Poppe commented that Bitcoin encountered lower pricing but found signs of buying pressure. He cautioned against using leverage during important macro events like today’s anticipated FOMC meeting, warning that such days are likely to induce volatility.

So far, so good for #Bitcoin.

Translation: So far, everything looks good for Bitcoin.

Additionally, Bitcoin remains above its short-term moving average. As long as the $111,000 level holds, the overall trend appears stable. A critical resistance level exists between $119,000 and $120,000. A decisive movement above this range could lead to a rise toward $123,000.

Analysts’ Predictions

The TD Sequential indicator has provided another sell signal. Analyst Ali Martinez has highlighted that past signals from this tool have sometimes preceded significant market reversals, including a recent 19% drop.

Long-term Trends and Market Activity

On a broader scale, Bitcoin has left price gaps around $110,900–$113,000. According to another prominent analyst, this gap was partially filled today, and a complete fill would be optimal for further upward movement.

Active trades continue to be seen in the $112,000–$117,000 zone, with over 1 million BTC changing hands. Long-term holders remain firmly in control, even with the recent market fluctuations.

Market Chart (Source: CryptoBusy/X)

Analyst Ali mentioned that Bitcoin needs to surpass $120,000 to facilitate movement toward $143,000, according to pricing band models. For the time being, the trading range between $111,000 and $120,000 continues to be crucial.

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