From a specific cycle perspective, BTC has consistently tested below the historical high of $110,000. Despite multiple refreshes of the high, getting infinitely close to the $110,000 mark, the subsequent pullback trends have also released considerable price retracement space. From this viewpoint, there is a possibility in the current market to create a false breakout to lure in buyers.
Currently, the market is likely to enter a wide fluctuation phase on a 4-hour cycle. In this pattern, $110,000 has become a significant resistance level, while $100,000 has established a crucial support line. These two price ranges have already become the core battleground for both bulls and bears to determine the market direction. It is worth noting that, according to the trends reflected in the liquidation map data, there is a potential risk of breaking below the $100,000 mark. Therefore, those investors who have the mentality of 'chasing highs and betting on increases' must closely monitor the market dynamics and remain highly cautious.
