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Blockonomi
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Bitcoin (BTC) Bulls Eye $110,700 Breakout as Price Action Tightens
- Bitcoin needs to close above $110,700 for a bullish breakout, according to analysts.
- A rising wedge pattern suggests $105,700 as downside support.
- Daily volume dropped by 15%, signaling lower market participation despite a weekly price gain.
- A historical model predicts Bitcoin could reach $275,000 by October 2025.
- BTC price approaches key resistance at $110,700, with traders awaiting a potential breakout.
- The critical level of $110,700 could initiate a sustained rally if surpassed.
- Analysts highlight a bullish demand zone above $110,700 for continued upward movement.
- Two potential short-term scenarios discussed by analysts include BTC ranging between $108,400 and $110,700 or dipping to $105,700.
- Current market structure suggests potential retest of $110,700 due to liquidity from stop-loss and buy stop orders.
- Bitcoin's price near the resistance level may lead to increased volatility.
- BTC trading at $109,780 with a 0.55% gain in the last 24 hours and a 4.56% rise over the week.
- Liquidation heatmap shows clusters above and below current levels, indicating short-term volatility.
- Historical cycle analysis predicts a potential BTC peak at $275,000 by October 2025.
- Contrasting earlier predictions, this model foresees the end of the bear market in October 2026.
- Traders are monitoring $110,700 as a key level amidst short-term volatility.
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