The recent rise of Bitcoin has pushed it to the resistance level on the daily chart. Now, the focus is on whether the price can break and hold above 109,000. If it can stabilize, we might start looking at levels above 110,000.
Some people have already started to bearish sentiments, and a drop is quite certain, but we also need to consider the timing. The early part of July can be seen as an upward wave, with both Bitcoin and ETH on the rise. Tonight, there will also be non-farm payroll data, and there are expectations of interest rate cuts in July. All these factors fully support Bitcoin touching the 110,000 level before a downward trend emerges.