Bitcoin (BTC) fails to break $110K, is its upward trend starting to weaken?

Jakarta, Pintu News – Bitcoin (BTC) has recently shown a significant increase, managing to break above the $107,500 zone. However, the cryptocurrency seems to be having trouble crossing the $110,500 mark, which raises the question of whether its upward momentum is starting to wane. This analysis will delve deeper into the current dynamics of the Bitcoin (BTC) price and its potential future direction.

Bitcoin (BTC) Price Increase

After successfully stabilizing above the $105,500 support, Bitcoin (BTC) started a new upswing by breaking the $106,500 and $108,000 resistances. Market participants even managed to push the price past the $109,200 resistance, peaking near $110,375. However, the price is currently undergoing a correction, dropping below the 23.6% Fibonacci retracement level of the upward move from $105,477 to $110,373.

In addition, there was also a breakdown of the bullish trend line with support at $109,450 on the hourly chart of the BTC/USD pair. Currently, Bitcoin (BTC) is trading above $107,500 and the 100-hour simple moving average. Immediate resistance is near the $109,250 level, with the first key resistance at $110,000 and the next at $110,500.

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Bitcoin (BTC) Price Drop Potential

If Bitcoin (BTC) doesn’t manage to break through the $110,000 resistance zone, there is a chance that the currency will experience a further decline. Immediate support is near the $108,000 level and the 50% Fibonacci retracement level of the upward move from $105,477 to $110,373. The first major support is near the $107,350 level.

The next support lies in the $106.550 zone. In case of further decline, the price could head towards support near $105,500 in the near term. The key support is at $105,000, below which Bitcoin (BTC) may gain bearish momentum.

Technical Indicators and Future Projections

The hourly MACD indicator is currently losing speed in the bullish zone, while the RSI (Relative Strength Index) for BTC/USD is now below the 50 level. This suggests that there could be more selling pressure emerging.

If Bitcoin (BTC) manages to break the $110,500 resistance, the price could rise and attempt the $112,000 resistance level. A further rise might push the price towards $115,000. However, if this downward trend continues, critical support will be the main focus for traders to watch for a potential rebound or further decline.

Conclusion

Bitcoin (BTC) price dynamics are currently showing a critical point in its upward trend. Facing strong resistance near $110,000 and $110,500, as well as technical indicators showing potential weakness, market participants should be wary of a possible change in price direction. Going forward, close monitoring of support and resistance levels, as well as technical indicators, will be crucial in determining the next direction of Bitcoin (BTC).

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Fails at $110K. Accessed on June 12, 2025
• Featured Image: Generated by AI