Bitcoin Faces $110K Resistance for the Third Time with Potential $120K Surge Ahead
Bitcoin is once again challenging the critical $110,553 resistance level, marking the third attempt at breaching this key barrier. The outcome at this juncture is pivotal, as a breakout above $110K could trigger a bullish momentum targeting $120,000, while a rejection may lead to a decline towards the crucial $93,226 support area.
Triple Top Pattern Indicates Market Tension
On July 9, 2025, Bitcoin is consolidating near the $110,553 level, which has previously acted as a strong resistance point in June. This repeated testing has formed a classic Triple Top pattern, signaling a potential trend reversal if the resistance is not convincingly surpassed. The current volume of $406.12 million reflects increasing interest around this price zone.
Potential Breakout Scenarios
If Bitcoin manages to break above the Triple Top resistance at $110,553, it could invalidate the bearish pattern and set the stage for a significant rally towards $120,000. This target is substantiated by the measured move theory, indicating a possible 10% surge from the resistance level. Traders are closely monitoring for volume spikes and sustained price action above $110K to confirm a bullish breakout.
Key Support and Resistance Levels
In the event of a rejection at the $110K barrier, traders should be prepared for a potential pullback towards the critical support at $93,226. Failure to breach the resistance could lead to a retesting of intermediate levels at $98,134 and $96,740 before targeting the $93K region. A breakdown below $93,226 could signify a notable shift in market sentiment.
As Bitcoin teeters at the edge of this crucial resistance, market participants are keenly observing whether the cryptocurrency will muster the strength to surge past $110K and continue its upward trajectory or if a rejection will trigger a downward spiral.
According to Sam Boolman, ChainIntel’s lead analyst, “Bitcoin’s repeated testing of the $110K resistance level underscores the significance of this price zone. A decisive breakout could pave the way for a substantial rally, but failure to breach this barrier may invite increased selling pressure, potentially pushing Bitcoin towards key support levels.”
