Bitcoin (BTC) has given investors a “surprise” by starting Halloween with a drop that places it drops below $110,000, currently trading around $110,162. This price action follows a consolidation phase within a symmetrical triangle pattern, which suggests indecision before a volatile move in the market, according to technical projections from analysts. Arslan Butt, a crypto writer and analyst, has pointed out that traders are bracing for a potential weekend rebound, which is why volatility could spike in the coming days.
The leading cryptocurrency has been operating in a narrow range, consolidating within the aforementioned symmetrical triangle formation, a classic chart setup that anticipates an eventual breakout up or down. Technically, on the 4-hour chart, the price prediction for Bitcoin drops below $110,000 remains neutral to slightly bearish, as the price bounced from its lower trendline, but is meeting resistance from the 50-day Exponential Moving Average (EMA) at $111,240. Likewise, selling is capped at the $112,000 mark, while buyers are strongly defending critical support near $106,300. The price structure is compressing, approaching an inflection point.
The $112,000 Battle: What levels must Bitcoin break?
Breaking key levels will define BTC’s next move. If the asset manages to overcome the $112,000 resistance with convincing trading volume, a short-term rally towards $116,000 or even the $119,000 zone could be expected. Nonetheless, if bearish pressure prevails and the price breaks the $106,300 support, the risk of a deeper slide towards $103,400 increases. The digital economy remains attentive to this crossroad. On the other hand, many traders anticipate a potential “weekend pump,” a pattern that occurs when thin liquidity on those days can amplify price rebounds after major corrections, so confirmation of the breakout will be the key signal for investors.
Will BTC’s Halloween “Spook” Turn into a Weekend Treat?
The current price consolidation of Bitcoin drops below $110,000 sets a high-tension scenario for the coming days. The indecision shown by the spinning top candles on the technical charts reflects the intense battle between bulls and bears. Therefore, traders remain cautious, with a long position being favorable only if BTC manages to stay sustainably above $112,000. The outcome of this Halloween “spook,” whether a major correction or a weekend pump, will depend on the speed with which volatility returns to the market. Monitoring support and resistance levels is vital at this stage.
