$BTC Approaches $110K: Breakout or Bull Trap?

my view 👀

Bitcoin (BTC) is currently trading at $108,403, nearing the significant psychological resistance at $110,000.

Key Technicals📊

Resistance: $110,000

Support: $105,000

RSI: 68 (approaching overbought territory)

MACD: Bullish crossover observed on the 4-hour chart

Market Sentiment: Predominantly bullish, with caution advised due to potential for a 15-20% correction.

Trade Insight: A decisive breakout above $110K could signal continued upward momentum. However, traders should remain vigilant for potential reversals.

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