Bitcoin (BTC) has continued to face resistance below the $120,000 level, with price action showing little momentum to push the asset toward a new high.<\/p>\n
At the time of writing, the world\u2019s largest cryptocurrency is trading above $118,000, reflecting a slight pullback of around 3.6% from its most recent all-time high. With the asset still in a tight range, investors are watching whether Bitcoin can establish a breakout or if a price correction is more likely in the near term.<\/p>\n
Meanwhile, recent on-chain analysis has highlighted an area of potential concern<\/a> in Bitcoin\u2019s price history that may point to a retest of lower levels before further upward movement.<\/p>\n According to data<\/a> shared on CryptoQuant\u2019s QuickTake platform, the $111,000\u2013$115,000 range remains an untested zone that could see renewed activity in the future, despite broader market optimism.<\/p>\n CryptoQuant contributor and on-chain analyst CryptoMe has identified what he calls a \u201cgap\u201d in Bitcoin\u2019s recent trading behavior. The analyst noted that between July 9 and 14, Bitcoin experienced a rapid rally from $110,000 to $123,000 without significant trading activity<\/a> in the $111,000\u2013$117,000 range.<\/p>\n On-chain data during that period reportedly showed limited retail participation, with most buying pressure coming from institutional players<\/a>. \u201cThis rapid upward move created a visible gap in the UTxO histogram,\u201d CryptoMe explained, adding:<\/p>\n Few transactions occurred in that range, meaning unrealized outputs were not established. Historically, such gaps have often been revisited by the market, filling those levels over time.<\/p>\n The analyst also mentioned that part of the gap has already been addressed with price action touching $115,000\u2013$117,000 in recent sessions, but the lower section around $111,000 remains unfilled.<\/p>\n Drawing from Bitcoin\u2019s 16-year price history, CryptoMe pointed out that similar scenarios<\/a> have occurred before. For instance, in 2024, Bitcoin skipped the $70,000\u2013$80,000 range on its way to $110,000 but eventually revisited and filled that gap.<\/p>\n Based on these recurring patterns, the analyst believes the $111,000 level may see a retest, even in a generally bullish environment. \u201cWhat remains uncertain,\u201d CryptoMe said, \u201cis whether this will happen as a direct drop from current levels or after a further climb, potentially toward $140,000<\/a>, followed by a correction.\u201d<\/p>\n The analyst advises market participants to consider the possibility of a pullback when planning their risk exposure and leverage positions, noting:<\/p>\n But either way, I believe the gap will be filled! So investors should know that, even in this bullish environment, a pullback toward 111k is still possible, and they should adjust their positions, leverage, and risk levels accordingly.<\/p>\n Featured image created with DALL-E, Chart from TradingView<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) has continued to face resistance below the $120,000 level, with price action showing little momentum to push the asset toward a new high. At the time of writing, the world\u2019s largest cryptocurrency is trading above $118,000, reflecting a slight pullback of around 3.6% from its most recent all-time high. With the asset still […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-85780","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85780"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=85780"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/85780\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=85780"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=85780"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=85780"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Analyst Highlights \u201cUnrealized Gap\u201d in Bitcoin\u2019s Price Movement<\/h2>\n
Historical Patterns Suggest Possible Retest of $111K<\/h2>\n