Bitcoin’s Range-Bound Movement: Will Bulls Breach $112K or Remain in Consolidation?

Bitcoin is currently consolidating around the $109,800 level, forming a tight range between the $78,000 support and the potential breakout zone at $112,000. While the RSI nears 70, indicating increased momentum, volume compression suggests the market may remain in a holding pattern or embark on further expansion. The price action reflects an underlying bullish structure with Bitcoin hovering just below the high-resistance level. 2023’s rallies have shown strength, exceeding $35,000 gains, following each consolidation phase.