Bitcoin breaks above 110K resistance level
Market Overview
Currently at $108,785.67 (+1.46%), testing critical psychological barrier
Strong technicals: price holding above 20-day ($105,586) and 50-day EMAs ($103,709)
Institutional accumulation of 600K+ BTC contrasts with short-term holder profit-taking
Key Catalysts
Bullish: BlackRock ETF inflows, inverted head-and-shoulders pattern with $112,700 neckline, Standard Chartered's $200K prediction
Bearish: $65.12M in 24-hour liquidations, regulatory uncertainties, resistance at $110,000-$110,273 from large holders
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Trading Opportunities
Breakout scenario targets $112K and $114K, with long-term projection toward $146K
Rejection scenario creates support tests at $107K-$105K for dip buyers
Monitor trendline strategies, pattern formations, and algorithmic trading
Community sentiment remains heavily bullish (81.52%), though traders should balance optimism with strategic risk management as this resistance test represents a critical inflection point for Bitcoin's trajectory.
