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Bitcoin’s multiple refusal of $ 110,000 signals the inability of bulls to maintain higher prices.
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The BTC price may drop by up to $ 105,000 in the short term if the key levels are lost.
Bitcoin (BTC) Bulls were thwarted in an effort to regain support on Thursday $ 110,000 because employment data in the US have exceeded expectations and acted and acted blow on the hopes of cuts at the interest rate before September.
This has been the third unsuccessful attempt since the historical tall May has questioned the ability of bitcoins to break $ 110,000 and re -enter the discovery of prices.
The price of bitcoins risk a deeper correction
Historically, multiple rejection in all the highest maximums included in the BTC price.
For example, the price of bitcoins has been rejected several times from the level of $ 107,000 in January, only 2% below Previous historically high over $ 109,000 reached 20 January. This preceded a 14% drop in price in two weeks that followed.
Related: Bitcoin Bull Run could Peter out in 2-3 months, says the analyst
Similarly, the price of BTC dropped by 18% within 10 days after multiple rejection from the level of resistance of $ 72,000, nearby Earlier 73 800 $ Record 14th March 2024.
If history repeats, a few BTC/USD will drop by 14% -18% of current price levels.
Technical indicators as Bearish Divergences In the Relative Force Index, where the price produces higher maxima, but RSI makes up a lower maximum, Strengthen resistance to $ 110,000.
In addition, they sell a volume of around $ 110,000, and the rates of neutral financing on the Futures markets point to profitable and hesitation between traders, increasing the probability of pullback.
TAKER sells orders that begin to rumble in this title 🩸 https://t.co/juy3luh9nf pic.twitter.com/zjrr9qnflt
– Market (@je_mismun) 3 July 2025
Key Bitcoin price levels for tracking below $ 110,000
Data from COINTELEGRAPH Markets for and Tradingview It shows Bitcoins trading for $ 109,100 because $ 110,000 remains a key barrier. A pair of BTC/USD must reach clear breaks over this level to end multimontal consolidation.
Above with this is the main supply zone extending from $ 110,000 to $ 112,000, which the bulls must also overcome to return to the price discovery.
On the contrary, bears will try to defend $ 110,000 resistance, increasing the likelihood of lowering the price below.
The key area of interest lies between $ 107,500, where a 50 -day simple gliding average (SMA) and $ 106,000 are currently sitting, where they seem to converge a 100 -day and 200 -day SMA.
Another area of interest stretches from the local minimum to $ 105,200 (achieved on Wednesday) to a psychological level of $ 104,000.
Pseudonymous trader killaxbt it draws attention that bitcoin could see a deeper correction if losing support between $ 108,000 and $ 107,500. The trader also said that the possession of this area would be visible in the next few weeks at the maximum.
“Hold = i tp my short and I can sweep this month ath.”
A three -day liquidation thermal map BTC/USDT shows the largest cluster of liquidity of $ 121 million sitting just above $ 110,000, depending on which Data from Coinglass.
Short press is therefore in the game if Level 110 000 $ is brokenWhich could force a short seller to close positions and drive prices towards $ 114,000.
On the other hand, heavy bidding orders sit around $ 108,000, with other significant cluster bands from $ 107,700 to $ 105,000.
This article does not contain investment counseling or recommendations. Every investment and business step includes a risk and readers should do their own research in decision -making.
