Bitcoin price fails to break $110K, is this a bearish sign?

Updated

July 9, 2025

Gambar Bitcoin price fails to break $110K, is this a bearish sign?

Jakarta, Pintu News – Bitcoin is on the decline again after failing to break the $110,000 zone. Now, BTC has the potential to drop below the $107,500 support zone.

Bitcoin Failure at $110K Threshold

After successfully crossing the $108,500 resistance, Bitcoin (BTC) had shown a promising rise. However, the attempt to break $110,000 was unsuccessful. A price peak was recorded at $109,700 before the price dropped again. This decline involved the removal of several important levels such as $109,200 and $108,500, as well as the breaking of a significant bullish trend line on the hourly chart of the BTC/USD pair.

Also Read: XRP price surges but corrects, can bulls take over again?

Technical Analysis: Indicators Show Bearishness

Currently, Bitcoin (BTC) is trading below $108,500 and the 100 hourly simple moving average. Immediate resistance is near $108,150, which is the 23.6% Fib retracement of the move down from $109,700 to $107,674. If Bitcoin (BTC) manages to break the $108,500 resistance, there is a possibility that the price will try to return to the $110,000 level. However, if this fails, the potential for further declines is very much open.

Downside Potential: Support and Resistance

If Bitcoin (BTC) is unable to break the $108,500 resistance zone, the price may drop again. Immediate support is at $107,500, followed by major support at $106,500. Further support is at the $105,500 zone. A further drop could take the price towards support at $104,200 in the short term. Critical support is at $103,500, where if the price drops below this, the decline could continue.

Future Prospects of Bitcoin

The technical indicators are currently showing bearish tendencies. The hourly MACD shows acceleration in the bearish zone, while the hourly RSI (Relative Strength Index) is below the 50 level. This suggests that the selling pressure may still continue. Investors and traders should keep an eye on the mentioned support and resistance levels to make the right trading decisions in the future.

Conclusion: Uncertainty Still Haunts Bitcoin Market

With Bitcoin (BTC) failing to break $110,000, the market may still experience volatility. Market participants should be cautious and consider all technical factors before making investment decisions.

Also Read: Bonk Crypto Surges: Is the Next Target Beyond $0.000025?

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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.