The price of Bitcoin is holding below the resistance level of 109,800 Dollar, forming a range between the support at 78,000 Dollar and the breakout zone at 112,000 Dollar.

The Relative Strength Index (RSI) is near 70 and the volume pressure indicates the possibility of bullish expansion or the continuation of limited range movement.
The multi-stage rises of 2023 complete the current stepped structure of Bitcoin (BTC), in an effort to break the resistance level of 112000 Dollar.
Bitcoin continues to stabilize below its all-time highs, trading at around 104,000 Dollar, maintaining its key structural levels. The price has remained in a trading range for several months, fluctuating between the support level at 78,000 Dollar and the resistance level at 109,800 Dollar, and is now beginning to show the potential for extension.
The current price movement reflects a bullish structure, with Bitcoin trading just below the red resistance zone. The range between 109,000 and 112,000 Dollars represents a reversal or breakout point. Every consolidation since 2023 has led to successive highs exceeding 35,000 Dollars.
Horizontal zones define the clarity of the setup.
Tony the Bull Severino's chart analysis highlights the weekly support and resistance structure of Bitcoin since early 2023. The price of Bitcoin stabilized between March and November 2023 below the $32,000 resistance level before breaking above the $32,000 barrier. This breakout led to a sharp rise to $73,500 by March 2024.