Bitcoin faced multiple rejections from the $110,000 level, indicating a struggle for bulls to maintain higher prices. If key levels are lost, BTC price could drop to around $105,000 in the short term. This marks the third failed attempt to regain support since the May all-time high, raising concerns about Bitcoin's capability to break through the $110,000 barrier. Historical patterns show that repeated rejections near all-time highs often lead to significant price drops, with past instances leading to declines of 14-18%. Technical indicators suggest profit-taking and trader hesitation, emphasizing a potential pullback. Currently, Bitcoin is trading at approximately $109,100, with critical resistance at $110,000 and the supply zone from $110,000 to $112,000. Key support levels to monitor include $105,200 and the $104,000 psychological level. A significant short squeeze may occur if the price breaks above $110,000, potentially pushing it towards $114,000, while strong bid orders exist around $108,000. Investors are advised to conduct their own research before making trading decisions.

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