Bitcoin Bulls Face Challenges Near $110,000 Amid Potential Volatility Ahead of CPI Data
2025-07-09 15:02:29
Main Idea
Bitcoin faces significant resistance near $110,000 due to liquidity barriers and potential volatility, with technical indicators suggesting a possible bullish breakout if key levels are breached.
Key Points
1. Bitcoin's attempt to surpass $110,000 was hindered by dense liquidity between $108,500 and $110,500, leading to a price reversal.
2. Technical analysis indicates a potential bullish breakout if Bitcoin achieves a 3-day close above $110,000 or an RSI reading above 70, possibly targeting $130,000.
3. Upcoming US CPI data and macroeconomic factors could heighten volatility in Bitcoin and broader risk assets.
4. Bitcoin remains supported by institutional inflows and a weakening US dollar, but short-term risks and liquidity challenges persist.
5. Market participants are advised to monitor liquidity zones and macroeconomic developments closely to navigate potential volatility.
Description
Bitcoin’s recent price action highlights the challenges bulls face as the $110,000 resistance remains elusive amid thickening liquidity barriers. Market participants are closely monitoring technical indicators and macroeconomic events, particularly
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