Bitcoin Price Analysis: Crucial Resistance Could Unlock Record Highs

Bitcoin is trading around $112K after showing signs of recovery from recent ￰0￱ charts highlight a potential shift in structure, but on-chain activity reveals a concerning slowdown in network usage, which could weigh on the sustainability of bullish ￰1￱ Shayan The Daily Chart On the daily chart, BTC is retesting the $112K level after bouncing from the $107K support ￰2￱ price is currently sitting just under the 100-day moving average, which has turned into short-term ￰3￱ RSI remains weak near 48, suggesting that buyers are present but lack strong ￰4￱ now, the $110K area remains the key ￰5￱ it holds, Bitcoin could aim for $116K and eventually the $124K ￰6￱ failure to stay above this zone risks dragging the price back toward $104K, where a larger pool of demand ￰7￱ 4-Hour Chart The 4-hour chart shows a double-bottom pattern forming around $106K, which has triggered a bounce back toward the $112K neckline ￰8￱ has climbed toward 59, reflecting stronger short-term momentum as buyers attempt to regain ￰9￱ bulls can break above $112K with volume, the next target is the $117K supply zone.

However, repeated rejections here would weaken the structure and possibly push price back toward the $110K region, making it another battleground for short-term ￰10￱ Analysis Active Addresses Despite the price stability, active addresses have been trending downward for months and show no signs of meaningful ￰11￱ decline suggests that retail participation and organic network demand are ￰12￱ active users often indicate that short-term speculation dominates the market, while real adoption and usage slow ￰13￱ the scenes, this trend could be explained by several factors: first, increased institutional dominance, where Bitcoin is treated more as a tradable asset than a medium of exchange; second, retail users shifting toward altcoins, DeFi, or stablecoins; and finally, long-term holders moving coins into cold storage, reducing transactional activity ￰14￱ divergence between price strength and weak address activity signals that liquidity is thinner, making BTC more vulnerable to volatility spikes if demand doesn’t return.