Surge Stalled! Bitcoin 110,000 Becomes the Key Life-and-Death Line

The recent upward trend in Bitcoin's 4-hour chart has not yet broken down, with the price remaining above the rising support line. However, bulls have faced significant resistance at 110,000, especially around 110,700 USD, having hit this level twice without success, leaving clear signs of a top. The signal is clear: at this level, the pressure is intense, and bears are defending very firmly.

My judgment is that if a solid bearish reversal candlestick pattern appears at the close of the 4-hour candle this afternoon, such as a large engulfing bearish candle or a dark cloud cover, it would present an opportunity to attempt a short position. If you decide to act, the stop loss must be firmly set, placed above the recent high with an additional 600 USD buffer. The initial target should be the area between 106,000 and 104,000.

On the daily chart level, today we should closely monitor several key levels: the hard resistance for upward breakout is between 110,700 and 112,000; for support below, we need to watch 107,000, and below that is the defense line at 106,000. This position is crucial, and bulls and bears will inevitably struggle fiercely for it, so we must keep a close watch.

In the upcoming layout direction, I will guide everyone to aim for the lucrative opportunities in altcoins, expecting a potential return of over 10 times is not an issue. Like and comment, and I will help you plan for the entire bull market!