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Bitcoin (BTC) Ready for $110,000: No Resistances
High technical support and a rising advantageous liquidation environment seem to be driving Bitcoin’s potential surge towards $110,000. The cryptocurrency is currently trading at approximately $106,650 after briefly consolidating between $104,000 and $106,000. Following a clean bounce from the 50 EMA, this recovery confirms that it has become strong dynamic support in the face of low-volume selling pressure.
Bitcoin has successfully overcome earlier resistance at $104,000, according to technical charts, and maintains levels above it. Furthermore, the RSI is found to be within a comfortable mid-range around 53, indicating that there remains space for bearish expansion and that the market is not overbought.
Moreover, data from the liquidation heatmap provided by CoinGlass for Binance BTC/USDT reveals that there are hardly any liquidation clusters between the current price and $110,000. This implies that Bitcoin possesses a clear path as there aren’t any stacked resistance levels within this area that could impede its rise by triggering cascading liquidations from short positions. This is confirmed by three red-circled regions on the heatmap: sparse resistance until approximately $110,000, followed by another zone around $106,000 (already absorbed) and dense liquidations around $104,000 (now support).
In summary, Bitcoin appears technically prepared for a surge to $110,000 but traders must remain vigilant. While bulls benefit from momentum, the low-resistance path also has two sides: it is easy to rise but equally simple to fall if sentiment shifts.
Source: u.today
