Bitcoin has reached the same resistance area of $110K for the third time and the reaction here will guide direction.
A move higher above the $110K range could quickly open the way for a new bullish run that targets the $120K mark.
If rejection occurs at this level traders should prepare for a possible slide toward the key $93K support region below.
Bitcoin (BTC) has approached a significant resistance zone near $110,553 for the third time, forming a classic “Triple Top” pattern. The BTCUSDT perpetual swap contract on OKX highlights this setup, marking a potential make-or-break moment for the flagship cryptocurrency. A decisive breakout above this level could propel prices toward $120,000, while rejection could send BTC tumbling to a $93,226 support zone.
Source: X Triple Top Resistance Tests Market Strength
As of July 9, 2025, Bitcoin is testing a horizontal resistance level around $110,553 — previously rejected twice in June. The third attempt comes as market volume hovers around $406.12 million, indicating growing interest at this level. The resistance forms the upper boundary of the Triple Top formation, a bearish reversal signal if not breached convincingly.
The price movement shows Bitcoin rising toward the $110K region in three distinct waves. Each wave failed to establish a new high, capping near the same resistance level. This price action closely mirrors the classic Triple Top schematic shared in the chart, where price rejection typically leads to sharp downward movement once neckline support is broken.
At the time of the chart's capture, BTC was trading around $108,666, marginally below the resistance zone. Technical traders are watching for confirmation — either a clean breakout above $110,553 or a rejection that would trigger bearish momentum.
Breakout Above $110K Could Trigger $120K Rally
A breakout above the Triple Top resistance would invalidate the bearish pattern and likely fuel a sharp rally. According to the analysis, a confirmed move past $110,553 could pave the way for a run toward $120,000 — a psychologically and technically significant level.
The bullish target aligns with the measured move principle often used in pattern trading. Based on the price range from support ($93,226) to resistance ($110,553), the projected breakout range spans nearly $17,000. If momentum builds and volume surges past current levels, a rally toward $120K would represent an approximate 10% increase from resistance.
Traders watching this setup are likely to consider volume spikes and candle closures above the key level as potential triggers for entry. In such a scenario, invalidation levels could be placed below $108,000 to manage risk. A sustained move above $110,553 would mark a shift in market structure and negate the bearish implications of the triple top.
$93K Support Becomes Key on Rejection
If BTC fails to break resistance, a rejection could initiate a fall back to strong support at $93,226. This area has previously acted as a demand zone and forms the base of the Triple Top pattern. According to the chart, a breakdown from the rising trendline and neckline could accelerate selling pressure.
In a bearish scenario, Bitcoin could retest intermediate levels such as $98,134 and $96,740 before reaching $93,226. The $92,520 level provides the final horizontal support in the pattern structure. A breakdown below $93K could signal a major shift in sentiment. As market participants monitor Bitcoin's price action, the pivotal question arises: Will BTC break above $110K and surge, or face another harsh rejection?
