Overview

• Bitcoin is trading around $111,000 after a bounce, with bulls needing a clean break above $111,500–$112,500 to extend gains toward $113,500–$115,500.
• Short‑term structure shows a rising channel with support near $110,500, while additional supports sit at $110,400, $109,500, $108,500 and $107,350, and major support remains around $105,500.
• Analyst Axel Adler reports an Open Interest Pressure Score at roughly 30%, a historically elevated zone associated with higher odds of long liquidations during downside moves.
• If price fails to reclaim resistance and pressure persists, some analysts warn a slide toward the $101k–$100k area, including the 200‑day moving average near $101,388, becomes more likely.
• Coverage notes ongoing consolidation after a steep rally, with liquidity rotation toward Ethereum cited as a factor weighing on Bitcoin’s ability to sustain higher levels.