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Bitcoin’s multiple rejection processes of $ 110,000 indicate that the bulls are unable to maintain high prices.
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The BTC price may decrease to $ 105,000 in the short term if you lose key levels.
Bitcoin (BTC) was thwarted in an attempt to restore support at $ 110,000 on Thursday, as American recruitment data exceeded expectations, as it dealt with contemplating the highly interest rates of the interest rates before September.
This is the third failed attempt in the highest level in May, as it raises doubts about Bitcoin’s ability to breach $ 110,000 and enter the discovery of prices again.
Bitcoin risk a deeper correction
Historically, multiple rejection operations near their highest levels have ever preceded sharp declines in the BTC price.
For example, the Bitcoin price has been rejected several times from the level of $ 107,000 in January, just less than the highest level ever ever at $ 109,000 reached on January 20. This has preceded a decrease of 14 % over the two weeks that followed.
Related to: Analyst says that Bitcoin Bull Run can come out within 2-3 months
Likewise, the BTC price decreased by 18 % within 10 days after multiple rejection operations of the resistance level of $ 72,000, near the previous record of $ 73,800 on March 14, 2024.
If the date is repeated, the BTC/USD pair will decrease by 14 % to 18 % of the current price levels.
Technical indicators such as the homogenous differences in the relative strength index, as the price makes its highest level but RSI is its highest level, which enhances resistance at $ 110,000.
In addition, the high sale volume is about $ 110,000 and neutral financing rates in future markets indicates the profit and hesitation between merchants, which increases the possibility of withdrawal.
Taker’s sale orders begin with tears in this address 🩸 https://t.co/juy3luh9nf pic.twitter.com/zjrr9qnflt
– Maartunn (Ja_MaARTUN) July 3, 2025
The main bitcoin price levels to see less than $ 110,000
Data from Cointelegraph Markets Pro and Tradingvief Bitcoin trading appears at 109100 dollars, where $ 110,000 is still a major barrier. BTC/USD pair needs a clear break above this level to end the Multimass unification.
Moreover, there is a major supply zone that extends from $ 110,000 to $ 112,000, which the bulls must also overcome to return to the discovery of prices.
On the contrary, the bears will try to defend the resistance of $ 110,000, which increases the probability of a decrease in the price.
The main interest field lies between $ 107,500, with a simple moving average for 50 days (SMA) currently and $ 106,000, as SMAS seems to be 100 days and 200 days converging.
Another field of interest extends from the lowest local level at $ 10,200 (reached on Wednesday) to the psychological level of $ 104,000.
Merinee Killxbt merchant Indicate This bitcoin can see a deeper correction if the support is lost between 108,000 dollars and 107,500 dollars. The trader also said that the contract of this region would witness BTC Rally to its highest level ever in the next few weeks.
“Hold = I Tp My Short and Time The Sweep of Ath this month.”
The HeatMap BTC/USDT map shows the largest liquidity group of $ 121 million, which exceeds $ 110,000, according to what he said. Data from Coinglass.
Therefore, there is a short pressure if the level of $ 110,000 is broken, which may force sellers exposed to closing positions and paying prices about 114,000 dollars.
On the negative side, heavy bid orders sit about $ 108,000, with the next important group ranges from 107,700 dollars to $ 105,000.
This article does not contain investment advice or recommendations. Each step includes investment and risk trading, and readers must conduct their own research when making a decision.
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