Bitcoin’s First Top May Be Brewing—Even After Holding $110K
$BTC
{spot}(BTCUSDT)
{future}(BTCUSDT)
Notice how Bitcoin has defended the $110K trendline that’s held since mid-September 2023—and yet, something feels off. The chart flagged by DoubleSStrades hints that this defense might just be window dressing for a local top. Bitcoin did rally to a new high, sure. But after that peak, the price action looks tired, almost suggesting a top is in. If that’s the case, look for a drop back toward the $103K area. And—just to be clear—it wouldn’t surprise me to see further weakness all the way down to the $94K–$92K range, depending on broader market moves. It’s not a bold call—just cautious. But when support holds too well, sometimes it’s because sellers are just biding their time.
If Bitcoin’s going to show real strength, it’ll have to do more than guard $110K—it’ll need to rally.
{spot}(BTCUSDT)
{future}(BTCUSDT)
Notice how Bitcoin has defended the $110K trendline that’s held since mid-September 2023—and yet, something feels off. The chart flagged by DoubleSStrades hints that this defense might just be window dressing for a local top. Bitcoin did rally to a new high, sure. But after that peak, the price action looks tired, almost suggesting a top is in. If that’s the case, look for a drop back toward the $103K area. And—just to be clear—it wouldn’t surprise me to see further weakness all the way down to the $94K–$92K range, depending on broader market moves. It’s not a bold call—just cautious. But when support holds too well, sometimes it’s because sellers are just biding their time.
If Bitcoin’s going to show real strength, it’ll have to do more than guard $110K—it’ll need to rally.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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