Buyers are expected to defend the zone between $110,000 and $112,000. If the price bounces from this support, BTC/USDT could easily rise toward the 20-day EMA ($113,500) on the 4-hour chart. A daily close above this level would suggest Bitcoin might trade sideways between $110,000 and $118,000 for a while.
On the other hand, if Bitcoin fails to break above the 20-day EMA and instead falls below $110K, it would show sellers are in control. In that case, the price could drop quickly to $105,000 and possibly even to the key psychological level of $100,000.
Currently, the RSI is trying to recover above the midline as it trades at level 42. If buyers face any further resistance, we might see a steep decline on the chart.
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