BTC AT RESISTANCEBitcoin / US DollarCOINBASE:BTCUSDScottMelkerBitcoin is pressing into resistance at $117,416, just shy of the key $118K level that has repeatedly acted as a ceiling since late July. Price is currently holding above the 50-day moving average (blue line), which is sloping upward again after flattening out during the recent pullback. That’s constructive – bulls want to see this level continue serving as dynamic support. Below, the chart shows multiple demand zones. The first sits in the $112K range, which capped price for weeks before breaking higher. This zone has already been tested as support on the latest dip and held cleanly. A deeper area of demand sits around $108K–$110K, aligning with August’s higher lows. Finally, the ultimate line in the sand remains the psychological $100,703 level. To the upside, a clean break above $118K opens the door toward $123,231, the August high. That level is the next major resistance and potential breakout point. Volume on the recent bounce has been decent but not explosive, which suggests buyers are stepping in with confidence but without full-on FOMO yet. Bottom line: Bitcoin remains in a larger bullish structure of higher lows off the September bottom, but the $118K zone must break for momentum to carry toward new highs. Until then, expect chop between $112K and $118K, with $123K as the upside target if resistance finally gives way.