#BTC

BTC Market Analysis:

Bitcoin has once again failed to break above, having attempted to surge past the 110k mark several times, only to be suppressed by selling pressure above. The selling pressure in the spot market remains heavy, but eventually, there will be a time when all the selling is exhausted and a breakthrough occurs.

In terms of price movement: Overall, aside from new highs, the largest resistance is around the current vicinity of 110k. The longer this area is tested, the larger the potential price movement will be after a breakthrough. At the same time, watch for support at the central position of 106800; as long as this position is not breached, the upward trend is still valid.

After the breakout above, the expected resistance at the high point will be between 115k and 118k. Let's wait and see!