Bitcoin (BTC) recent price movements exhibit typical technical analysis patterns. When encountering resistance levels, the price tends to pull back; and when touching support levels, a rebound often occurs. Currently, BTC seems to have found temporary support around $107,000, but the key resistance level at $112,000 still remains.

The market's focus is shifting to the Consumer Price Index (CPI) data to be released on October 30. It is widely expected that this data will trigger a 25 basis point rate cut. However, the real question is how the market will interpret and react to this news.

Although short-term fluctuations may occur, the overall trend suggests that Bitcoin still has room to rise. The possibility of the last upward wave remains, which could push BTC through the current resistance level.

Investors should closely follow these key price levels and upcoming economic data, as they could have a significant impact on Bitcoin's short-term movements. At the same time, paying attention to changes in market sentiment is important, as it is often a major driver of the cryptocurrency market.