Bitcoin just snapped back above $111,300 after defending the $107K–$108K pocket—and one level now separates the market from a fresh all-time high: $112,000. With the CPI release due today and volume ticking higher on green candles, the next 24–48 hours could define November’s trend. Here’s what matters, why it matters, and how to trade it with discipline.

What’s Happening Now

Bitcoin reclaimed the $110,000 support and is pressing into a dense resistance band at $111K–$113K, which aligns with the 20-day MA and a prior horizontal supply zone. According to market analysts, a decisive break and hold above $112K would open the path to $119K–$120K, the final barricade before retesting the previous ATH near $124K.

Why Traders Should Care

Today’s CPI print (consensus: 0.4% MoM, ~3.1% YoY) can flip risk sentiment in minutes. A hotter-than-expected number often spikes volatility as traders reprice rate expectations—amplifying both upside breakouts and downside fake-outs. With BTC perched at resistance, reaction to CPI could be the catalyst that determines whether we see an ATH attempt in November or a reset back into range.

Key Levels to Watch

• $112,000: Pivot for breakout. Acceptance above turns resistance into support.
• $111K–$113K: Supply zone; expect whipsaws and failed first attempts.
• $119K–$120K: Final resistance before $124K ATH retest.
• $110,000: Reclaimed support; losing it risks a slide toward $108K–$107K.

Actionable Plan for Today

• Set alerts at $112K and $110K ahead of CPI. Trade the reaction, not the prediction.
• For breakouts: Wait for a 4H close above $112K plus rising volume; look for a retest/hold of the level to avoid chasing wicks.
• For ranges: If rejection at $112K, consider mean-reversion back toward $110K with tight risk caps.
• Risk management: Use hard stops; size down pre-CPI. Expect higher slippage and spreads.
• Confirm with confluence: 20D MA slope, volume expansion, and funding/OB data to validate strength.

Risks and Invalidation

A CPI surprise can cause fake breakouts. Invalidation for a bullish breakout thesis is a swift move back below $112K after the first acceptance, especially on rising sell volume. For bulls, loss of $110K turns focus to $108K–$107K; for bears, a clean hold above $112K weakens the downside case.

Bottom Line

The market has done the hard work of building a base; now it needs confirmation. $112K is the gatekeeper—clear it with conviction and the path to $119K–$120K and a potential ATH attempt opens quickly. Keep plans simple, react to the data, and let levels—not emotions—lead your decisions. If you don't want to miss any crypto news, follow my account on X.