Bitcoin’s Daily Close Sparks Alarm – $110,500 Breakdown Threatens Bullish Momentum
Bitcoin's latest daily close just sent shivers through crypto markets—traders are bracing for a potential momentum shift as the $110,500 support level teeters on the edge.
Why This Level Matters
That $110,500 mark isn’t just another number—it’s a critical psychological and technical threshold. Break below it, and we could see a cascade of liquidations. Hold above, and the bulls live to fight another day. Simple as that.
Traders Eye the Charts
Everyone’s watching the order books like hawks. Longs are sweating; shorts are licking their chops. And let’s be real—if this level fails, even the most optimistic HODLers might start questioning their life choices. After all, nothing tests conviction like a -20% red candle.
Finance Traders? Still Clueless.
Meanwhile, traditional finance guys are probably still trying to short it with leverage—because what could go wrong? They never learn. Crypto doesn’t care about your Bloomberg terminal.
What’s Next?
Keep an eye on that $110,500 line. If it cracks, things could get messy. If it holds… well, then it’s just another Tuesday in crypto.
Daily Candle Signals Bearish Pressure For Bitcoin
Cryptowzrd expanded on his outlook by pointing out that Bitcoin’s daily candle closed bearish, with price now trading beneath the $110,500 support zone. This breakdown is significant and could invite further selling pressure in the sessions ahead if buyers fail to reclaim the level.
He emphasized that holding below this support opens the door for a potential MOVE toward the $100,000 mark. However, a strong bullish candle and a swift recovery could invalidate the bearish setup, restoring confidence for buyers.
In the analysis, he also highlighted the performance of Bitcoin Dominance (BTC.D), which closed indecisively while displaying weakness. This weakness in dominance is often viewed as a positive signal for altcoins, as it suggests capital is flowing away from Bitcoin and into alternative assets.
Such a shift in market dominance reflects growing market confidence in altcoins. When bitcoin dominance stalls or declines, it tends to fuel altcoin rallies, allowing traders to diversify into promising setups across the market.
Finally, he noted that markets are heading into the monthly transition period, a time often associated with increased volatility and mixed sentiment. Going into the weekend, he emphasized the importance of staying rational and avoiding overextending in either direction, maintaining measured strategies while waiting for clearer confirmation signals.
BTC Volatility Dominates Intraday Trading
Cryptowzrd highlighted that today’s intraday chart displayed sharp volatility with a clear bearish tone, as Bitcoin slipped and is currently holding below the $110,400 intraday support. This level has now become critical, as losing it signals weakening buyer strength and raises the risk of further downside pressure.
He explained that if Bitcoin retests $110,400 and fails to reclaim it, the level could flip into resistance. Such a scenario WOULD likely trigger a short setup, with price action targeting the $105,500 support area or even extending lower if bearish momentum accelerates. This makes the $110,400 region a decisive battleground for traders closely watching intraday setups.
On the other hand, Cryptowzrd pointed out that a strong reclaim and hold above $110,400 could shift momentum back in favor of the bulls, opening the door for further upside pressure. However, the crypto analyst emphasized that the market currently lacks clarity, and traders should exercise caution before rushing in.
