Bitcoin resistance between $116,200 and $118,600 is holding due to macroeconomic uncertainty and technical selling pressure; a decisive break above this zone would likely restore bullish momentum, while support at $108K–$112K is critical to preventing a deeper correction.
Bitcoin stalled under $118,600 resistance after macro and technical pressure.
Fed commentary at Jackson Hole could trigger renewed volatility and directional moves.
Analysts point to $108K–$112K as crucial support; substantial exchange outflows and liquidations have impacted short-term sentiment.
Meta description: Bitcoin resistance at $116,200–$118,600 is testing markets; monitor Fed commentary and $108K–$112K support to gauge next moves. Read key takeaways and expert analysis.
What is causing the Bitcoin resistance at $116,200–$118,600?
Bitcoin resistance in the $116,200–$118,600 band is driven by macroeconomic uncertainty, technical selling pressure, and profit-taking near recent highs. Institutional caution and recent liquidations have kept upward momentum capped, making a clean break above this range necessary to confirm renewed bullish trend.
‘,
‘
🚀 Advanced Trading Tools Await You!
Maximize your potential. Join now and start trading!
‘,
‘
📈 Professional Trading Platform
Leverage advanced tools and a wide range of coins to boost your investments. Sign up now!
‘
];
var adplace = document.getElementById(“ads-bitget”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBitget”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBitget.length) : sessperindex;
adplace.innerHTML = adscodesBitget[adsindex];
sessperindex = adsindex === adscodesBitget.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBitget”, sessperindex);
}
})();
Comments from Fed Chair Jerome Powell at the Jackson Hole Symposium can increase short-term volatility by shifting macro expectations. Markets are sensitive to guidance on interest rates and inflation; a hawkish tone would likely pressure risk assets, while dovish signals could prompt renewed ETF inflows and price strength.
Front-loading the key levels: resistance sits at $116,200–$118,600; support is concentrated at $108K–$112K. Traders and funds are watching these ranges for confirmation of either a breakout or a corrective phase. The $108K–$112K zone has shown robust demand in recent sessions.
Recent exchange outflows and documented liquidations suggest profit-taking near resistance. Net outflows historically indicate holders moving assets off exchanges into cold storage, reducing short-term sell pressure, but they can coincide with reduced liquidity and higher volatility if selling resumes.
Institutional flows, particularly into spot and related products, provide structural support when sustained. Current flows are cautious: inflows exist but are tempered by macro risk. Sustained, large-scale institutional buying would likely ease resistance tests and help push Bitcoin above the current range.
‘
];
var adplace = document.getElementById(“ads-binance”);
if (adplace) {
var sessperindex = parseInt(sessionStorage.getItem(“adsindexBinance”));
var adsindex = isNaN(sessperindex) ? Math.floor(Math.random() * adscodesBinance.length) : sessperindex;
adplace.innerHTML = adscodesBinance[adsindex];
sessperindex = adsindex === adscodesBinance.length – 1 ? 0 : adsindex + 1;
sessionStorage.setItem(“adsindexBinance”, sessperindex);
}
})();
Source: https://en.coinotag.com/bitcoin-could-face-resistance-near-116k-118k-while-110k-112k-is-seen-as-key-support-ahead-of-fed-remarks/