BTC Below $110,000 Are they below $110,000?
Bitcoin's recent action, which had previously served as a strong base for gains, carried its efforts sharply after the 110,000 mark. This failure will stop the fraudulent period of exposure to secure profits after weeks.
The current bullishness follows several failed attempts to maintain resistance above $116,000. As of writing, BTC is trading slightly below $109,000 as it puts up a significant shift in short-term sentiment. This exposes the broader market to the risk of testing lower support zones after an extension.
Technical breakdown-charts
The 4-hour and daily charts indicate a clear decline from the 116,000 resistance zone, followed by a continuous lock in trading volume that often triggers a sticky crossover.
Moving Updates: The 20-day moving average is near the $111,000 bubble, while the 50-day MA is rising to $107,500. The cross below can confirm short-term weakness.
The chart is now the transmission channel that indicates a continuous line to continue unless the lost zone is quickly recovered.
Key steps to watch
$110,000 daily after $110,000, $104,000 – $100,000 if not shared.
Chain and market positioning insights
It reflects a slight slowdown in the movement of accumulated data in the chain. The whale waltz is absorbing short-term distributions, adding to short-term distributions. Meanwhile, the initial funding levels are neutral, indicating that traders will not overdo it with either.
The Prime Minister mentions carefully the general sentiments as we see the next major innovation zone close to $100,000, with the middle of 2024.
Show operation and price goals
Cash Situation: – Selling pressure below $108,000 may expand to $104,000 in the short term after it is employed below $108,000. Then at the lower break, the next major ar llamas will expose $100,000,000.
$110,000 Huge Retracement: – A bearish structure extending above $112,000 can be defined above $112,000. If so, BTC may test another push towards $116,000-$120,000.
The neutral/lease range configuration can consolidate between $104,000 and $111,000 before choosing the next direction, especially if the macro data or the ESF flow remain quiet.
Final thoughts
Bitcoin Breaks Down Below $110,000 When he leaves the rest to the bears. Before the jury begins, BTC tracking hints at a cooling level that could see highs above $104,000.
However, the broad winner remains as long as it breaks above the $95,000 macro support. A quick $110,000 gamble can negate this and bring the robber up to $125,000.
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