Bitcoin is currently forming higher lows, indicating bullish intent — but strong resistance around $110.6K continues to hold.
There are 3 key scenarios developing:
1. Double Top Formation: If BTC faces rejection again near $110.5K, a double top may form, leading to a potential drop.
2. Bullish Breakout: A successful breakout above both resistance levels could push BTC toward $116K–$120K.
3. Bearish Breakdown: If rejection happens earlier without retesting, BTC might crash directly to a lower low around $95K–$96K.
RSI indicates underlying strength, but until a decisive breakout or rejection confirms, traders should remain cautious and patient.
There are 3 key scenarios developing:
1. Double Top Formation: If BTC faces rejection again near $110.5K, a double top may form, leading to a potential drop.
2. Bullish Breakout: A successful breakout above both resistance levels could push BTC toward $116K–$120K.
3. Bearish Breakdown: If rejection happens earlier without retesting, BTC might crash directly to a lower low around $95K–$96K.
RSI indicates underlying strength, but until a decisive breakout or rejection confirms, traders should remain cautious and patient.
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🌹TRADING is a CASINO💔!? NO‼️ You❗️CAN and ❗️SHOULD make money in trading! Join me, I'll guide you to PROFITABLE TRADING💵! 🟢Free Telegram Channel: : telegram.me/crypto_vulture_signals
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.