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🚨$BTC Faces Third Rejection at $110K, Bulls at Risk! 📉

Bitcoin ($BTC ) struggled to break $110K again, marking its third failed attempt since May’s all-time high. Strong US jobs data crushed hopes for early rate cuts, fueling bearish pressure. 😬

🔎 Key Levels to Watch:

• Upside: A clear break above $110K could target $112K, with a potential short squeeze to $114K if liquidity at $121M is tapped (CoinGlass).

• Downside: Risk of a 14-18% drop, with support at $107.5K (50-day SMA) and $105K-$106K (100/200-day SMAs). A break below $108K could see $104K next.

📊 Technical Signals:

• Bearish RSI divergence at $110K.

• High-taker sell volume & neutral futures funding rates suggest profit-taking.

💡 Holding $107.5K-$108K could spark a rally to new highs this month. Losing it? Deeper correction ahead.

⚠️ Stay sharp, traders! Always DYOR. 📈