BTC holding up ‘nicely’ despite volatility – new ATH soon?

Although the period of heightened volatility across the cryptocurrency market is far from over, Bitcoin (BTC) continues to show impressive resilience, holding firm around the $112,000 mark that could be the prelude to a new all-time high (ATH).

Specifically, prominent crypto trading expert Michaël van de Poppe has observed that the flagship decentralized finance (DeFi) asset could be preparing for “strength coming in shortly” that could bring it to a new ATH, according to an analysis he shared in an X post on October 15.

BTC holding key support levels

Indeed, the chart shows Bitcoin consolidating just above the $111,900 zone, which has acted as consistent support throughout recent weeks. Despite sharp fluctuations, buyers continue to defend this area, signaling strong demand even as trading volumes remain thin. 

Should BTC maintain this support, the next major resistance lies around $119,500, which van de Poppe identified as the “potential area to break before a new ATH.” A decisive close above that region could open the door to Bitcoin to revisit price discovery territory.

Also, the popular analyst pointed to ongoing market illiquidity as a driver of recent volatility. With thinner order books across exchanges, even moderate trading volume can trigger large price movements, amplifying both rallies and pullbacks. Still, this situation can also favor quick recovery when buying pressure returns.

Furthermore, the chart highlights an accumulation zone between $107,000 and $108,000, which van de Poppe described as an “area to start looking for buys.” If Bitcoin dips into this range, traders may treat it as a prime entry point for potential upside continuation.

For now, the maiden crypto asset is changing hands at $112,712.23, suggesting a 0.91% gain in the last 24 hours, in the face of the 7.4% drop across the previous seven days and a decline of 2.42% on its monthly chart, per the latest price data.

All things considered, Bitcoin’s broader outlook remains bullish until a breakout confirmation above $119,500 happens, especially as BTC continues to hold higher lows despite volatile swings. If the current momentum persists, the market could be gearing up for a strong Q4 performance and possibly a fresh record high before the year’s end.