Can Bitcoin hit 110,000?
Tonight's economic data may dominate market trends: important economic indicators such as CPI and PPI have a significant impact on the market.
Previous economic data met expectations, which led to a reversal in the market. Currently, both bulls and bears are waiting for new market signals.
Personal opinion: In the short term, the market may enter a consolidation range, and without clear news catalysts, it will be difficult for Bitcoin to break the 110,000 mark.
Considering that early holders may choose to sell at this price level, this is also a factor to watch.
Technical analysis: From the daily chart, bearish forces slightly outweigh bullish ones, and in the short term, it may pull back to the 102,500-100,800 range before rebounding again. If the price does not fall below the 100,000 mark, a low-buy strategy can be considered; if it falls below 100,000, caution should be taken for the risk of an M-top forming on the 4-hour chart.
