At press time, BTC is trading around $110,345, marking a 0.96% increase in the last 24 hours and showing signs of renewed momentum following a brief sell-off earlier this week.
The recovery places Bitcoin’s market capitalization back above $2.19 trillion, with 24-hour trading volume exceeding $66 billion, according to the latest data. Despite a modest seven-day decline of 0.61%, sentiment across the market appears cautiously optimistic as technical indicators show signs of stabilization.
Technical Picture: Bitcoin Attempts to Build Support Above $110,000
The daily chart shows Bitcoin bouncing from local lows, attempting to establish a solid support base above $110,000. The candlestick pattern reveals a gradual recovery after recent volatility, with buyers stepping in to defend the zone near $108,000.
According to TradingView data, Bitcoin closed the day up nearly 1.9%, at $110,400.51. The Relative Strength Index (RSI) currently stands at 46, signaling neutral momentum — neither oversold nor overbought. This level suggests room for further upside if buying pressure continues to build in the coming sessions.
The MACD indicator, however, remains slightly bearish, with the signal line still hovering below zero, reflecting the lingering impact of recent selling pressure. Analysts note that a bullish crossover could signal the start of a short-term rebound if Bitcoin successfully breaks its next resistance zone.
Analysts Identify $112,000 as Key Resistance
Crypto analyst Ali highlighted the $112,340 level as the most significant resistance in the near term, based on Glassnode’s UTXO Realized Price Distribution data. This price level corresponds to one of the highest clusters of realized price distribution — an area where a large number of coins last changed hands.
Right now, the most important resistance level ahead of Bitcoin $BTC is $112,340. pic.twitter.com/2s3nMJ3OQ8
— Ali (@ali_charts) October 31, 2025
A decisive move above this threshold could open the door for Bitcoin to target higher levels, potentially retesting the $115,000–$118,000 zone. On the flip side, failure to clear this barrier might result in another short-term pullback as traders take profits near resistance.
Market Structure Remains Intact: Bitcoin Holds Above 50-Day MA
Despite the recent correction, popular market commentator Crypto Rover emphasized that Bitcoin remains comfortably above its 50-day moving average (MA50) — a historically significant trendline that has often acted as a springboard during major bull phases.
Bitcoin is still trading above the 50MA. pic.twitter.com/nrHIF54psU
— Crypto Rover (@cryptorover) October 31, 2025
Rover pointed out that Bitcoin’s ability to stay above this level has repeatedly marked key points of accumulation throughout its market cycles. The chart he shared shows multiple rebounds from the MA50 since 2024, each time leading to strong upward extensions. If the pattern holds, Bitcoin could be preparing for another leg higher into November.
Gold’s Rally May Signal Bitcoin’s Next Move
Another chart shared by Crypto Rover compared Bitcoin’s recent performance with that of gold, suggesting that gold’s current uptrend could foreshadow a similar move in Bitcoin with an approximate 70-day lag. The visual correlation shows gold surging to record highs in recent weeks, while Bitcoin has yet to replicate the same magnitude of gains.
Gold leads Bitcoin with about 70 days.
Guess what's next 👇 pic.twitter.com/6msVL7BJgO
— Crypto Rover (@cryptorover) October 31, 2025
If this relationship persists, Bitcoin could follow a similar trajectory before year-end, echoing gold’s recent momentum as investors rotate back into hard assets amid global economic uncertainty.
This theory aligns with historical patterns, as both assets have often exhibited delayed yet correlated movements during periods of rising inflation or geopolitical risk.
Short-Term Outlook: Consolidation Before a Break?
On-chain data and technical indicators suggest that Bitcoin may enter a consolidation phase between $108,000 and $112,000 before making its next major move. With RSI in the mid-40s and MACD showing early signs of recovery, the market seems poised for a potential retest of upper resistance.
The 24-hour green candle indicates improving market sentiment after days of hesitation. However, analysts warn that Bitcoin must sustain its position above $110,000 to maintain bullish momentum. A drop below this level could reignite selling pressure and test support near $106,000.
Broader Market Context
Bitcoin’s rebound comes amid mixed macroeconomic signals and renewed investor interest in digital assets as a hedge against inflation and currency weakness. While equities have shown volatility following recent Federal Reserve statements, Bitcoin has demonstrated relative resilience, trading within a tight range compared to traditional risk assets.
Crypto traders are now closely watching ETF flows, institutional accumulation, and global liquidity trends heading into November. A strong close above $112,000 could shift sentiment decisively back in favor of bulls and potentially reestablish Bitcoin’s path toward $120,000.
The Bottom Line
After a shaky week, Bitcoin has reclaimed the $110,000 mark, signaling renewed stability in an otherwise cautious market. As traders eye the critical $112,340 resistance level identified by on-chain data, the next few sessions could determine whether Bitcoin consolidates or reignites its rally toward new highs.
For now, the technical setup remains constructive — as long as BTC stays above its 50-day moving average, the broader bullish narrative appears intact.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.