Bitcoin's third flop at $110K puts bulls at risk: BTC price levels to watch

6 hours ago

Key takeaways:

Bitcoin’s aggregate rejections from $110,000 awesome the bulls’ inability to prolong higher prices.
BTC terms whitethorn driblet arsenic debased arsenic $105,000 successful the abbreviated word if cardinal levels are lost.

Bitcoin (BTC) bulls were thwarted successful an effort to regain enactment astatine $110,000 connected Thursday arsenic US employment information exceeded expectations, dealing a blow to hopes of interest-rate cuts earlier September.

This is the 3rd failed effort since the May all-time high, casting uncertainty connected Bitcoin’s quality to breach $110,000 and participate terms find again.

Bitcoin terms risks a deeper correction

Historically, aggregate rejections adjacent all-time highs person preceded crisp drops successful BTC price.

For example, Bitcoin terms was rejected aggregate times from the $107,000 level successful January, conscionable 2% beneath the previous all-time precocious supra $109,000 reached connected Jan. 20. This preceded a 14% terms driblet implicit the 2 weeks that followed.

Similarly, BTC terms plunged 18% wrong 10 days pursuing aggregate rejections from the $72,000 absorption level, adjacent to the earlier $73,800 grounds high of March 14, 2024.

If past repeats, the BTC/USD brace volition driblet 14-18% from existent terms levels.

Technical indicators similar bearish divergences in the comparative spot index, wherever the terms makes higher highs but RSI forms little highs, reinforce the absorption astatine $110,000.

Additionally, high-taker merchantability measurement astir $110,000 and neutral backing rates successful futures markets constituent to profit-taking and hesitation among traders, expanding the likelihood of a pullback.

Taker Sell Orders starting to rumble connected this header 🩸 https://t.co/JUy3LuH9nF pic.twitter.com/ZJrr9qNflT

— Maartunn (@JA_Maartun) July 3, 2025

Key Bitcoin terms levels to ticker nether $110,000

Data from Cointelegraph Markets Pro and TradingView shows Bitcoin terms trading astatine $109,100, arsenic $110,000 remains a cardinal barrier. The BTC/USD brace needs to execute a wide interruption supra this level to extremity the multimonth consolidation.

Above that, determination is simply a large proviso portion stretching from $110,000 to $112,000, which the bulls indispensable besides flooded to get backmost into terms discovery.

Conversely, the bears volition effort to support the $110,000 resistance, expanding the likelihood of pulling the terms lower.

A cardinal country of involvement lies betwixt $17,500, wherever the 50-day elemental moving mean (SMA) presently sits, and $106,000, wherever the 100-day and 200-day SMAs look to converge.

Another country of involvement stretches from the section debased astatine $105,200 (reached connected July 2) to the $104,000 intelligence level.

Pseudonymous trader KillaXBT points out that Bitcoin could spot a deeper correction if it loses the enactment betwixt $108,000 and $107,500. The trader besides said that holding this country would spot BTC rally to caller all-time highs implicit the adjacent fewer weeks.

“Hold = I TP my abbreviated and purpose for a expanse of ATH this month.”

The BTC/USDT three-day liquidation heatmap shows the biggest liquidity clump of $121 million, sitting conscionable supra $110,000, arsenic per data from CoinGlass.

A abbreviated compression is truthful successful play if the $110,000 level is broken, which could unit abbreviated sellers to adjacent positions and thrust prices toward $114,000.

On the downside, dense bid orders are sitting astir $108,000, with the adjacent important clump bands successful spot from $107,700 to $105,000.

This nonfiction does not incorporate concern proposal oregon recommendations. Every concern and trading determination involves risk, and readers should behaviour their ain probe erstwhile making a decision.

View source