Bitcoin Price Faces Resistance Near $110,000 Amid US Employment Data and Potential Correction Risks

Key Points

1. Bitcoin struggles to sustain momentum above $110,000, raising concerns about its ability to re-enter a price discovery phase and maintain a bullish trend.

2. Historical patterns show that previous resistance levels, like $72,000 in March, were followed by price declines of 14% to 18%, indicating a risk of a similar retracement.

3. Key resistance levels include $110,000 to $112,000, while critical support lies between $108,000 and $105,000, with moving averages providing additional support.

4. Liquidity clusters show $121 million above $110,000, while heavy bid orders around $108,000 offer downside protection, highlighting key levels for market stability.

5. Analysts emphasize the importance of holding above $108,000 to sustain bullish momentum, while a breakdown could lead to further downside pressure.