Bitcoin Eyes $110K as Technical Support and Low Resistance Fuel Rally

Bitcoin is showing strong signs of a potential surge toward the $110,000 mark, backed by solid technical support and a favorable liquidation environment. Currently trading around $106,650, BTC has rebounded decisively from the 50-day EMA, indicating it remains a key support level despite low-volume selling pressure.

After consolidating between $104,000 and $106,000, Bitcoin broke past the $104,000 resistance and is maintaining momentum above it. The Relative Strength Index (RSI) sits at a neutral 53, leaving room for further bullish expansion without signaling overbought conditions.

A key bullish indicator is the liquidation heatmap from CoinGlass for Binance’s BTC/USDT pair. The data reveals minimal liquidation clusters between the current price and $110,000. This absence of stacked short positions means Bitcoin faces little resistance in this zone, giving bulls a clear runway for upward movement. The heatmap shows prior resistance at $106,000 has already been absorbed, and the $104,000 level now serves as solid support.

However, the same low-resistance environment can be a double-edged sword. If Bitcoin fails to hold above $105,000 and drops below $104,000, it could quickly slip back to the $103,000 range due to limited liquidity and rising sell pressure.

Overall, Bitcoin is technically poised for a breakout to $110,000, supported by a clean chart structure, low resistance levels, and bullish momentum. Traders should remain cautious, as any shift in sentiment could lead to rapid corrections. Still, with the current setup, a test of all-time highs appears increasingly likely.