#BTCWhaleMovement If Bitcoin Hit 115k$ then 6 Billion of shorts are Liquidated.
Bitcoin Warning: 3rd Rejection at $110K â Pullback or Breakthrough? đ„
đ Current Market Overview
Price Retreat from $110K: BTC recently climbed above $110K but got rejected for the third time in a row, indicating resistance around that level .
Support Levels to Watch: Upside faces selling pressure near $110â112K; downside support lies between $105Kâ$108K .
đ Technical Indicators & OnâChain Dynamics
Short-Term Bearish Signals: RSI and MACD show bearish divergence on intraday charts, hinting at potential pullback .
Consolidation Zone: BTC is trading within a symmetrical triangle (~$108Kâ$110.6K), indicating market indecision .
Holder vs Trader Standoff: On-chain data shows long-term holders are HODLing (~14.7M BTC), while leveraged traders are building positionsâsuggesting a coiled spring scenario .
Whale Wallet Activity: Movement of 20,000 BTC (~$2B) from dormant wallets triggered fears of potential sell-off .
đŠ Macro & Institutional Context
Stable ETF Inflows: Institutional demand remains strongâspot Bitcoin ETFs have attracted over $48Bâoffering buffer against big drops .
Economic Pulse on Hold: Despite strong U.S. employment data pushing yields higher, BTC has held stable, awaiting key macro events like Powellâs testimony and inflation data .
đ Short-Term Outlook
Downside Risk: If $110Kâ112K cap persists, BTC could dip toward $105Kâ$108Kâhistorical rejection levels suggest a possible 3â5% pullback .
Bull Case: Clearing $110.6K decisively could trigger a rally toward next resistance at $112Kâ$114K, fueled by institutional backing .
Key Catalysts: Watch for macroeconomic data, Powellâs testimony, and any fresh whale movements that could tip the balance.
đ Key Price Levels to Watch
Level Significance
$110Kâ$112K Strong resistance (triple top)
$108K Intraday triangle bottom
$105K Broader support zone