key points:
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Failure to reconstruct $ 120,00 may withstand trouble for bitcoin bulls.
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The whales appear to be launched at the local height, causing the further hurdles.
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The short -term holder facilitates the cost base interest as local support lines.
Bitcoin (BTC) tried to crack at $ 120,000 at Tuesday’s Wall Street Open as the traders remained divided on the strength of the market.
Bitcoin price weakness sparks sub- $ 110,000 target
Data Pro from cointelegraph markets and Tradingview Shown BTC/USD is returning below $ 117,500, which is now under its daily open.
The pair managed to reach $ 119,000 a day, despite the signs of fresh BTC sales by asset manager Galaxy Digital.
American vendors later stepped into, and commenting on the current market setup, many traders warned that any negative side could quickly snow.
$ BTC Thinking that we are about to start the C wave here up to $ 111,000 pic.twitter.com/mef2wskqfd
– Bigmike7335 (@Michael_WPro) 29 July, 2025
Popular trader Roman wrote on his part, “We have got bears, Latest analysis On X, the first is given a negative target of $ 108,000.
Trading resource material indicators saw the capacity for new climbing, warned that whales were distributed.
“If $ 116,750 does not hold, the $ 110K range can quickly focus,” this told X followers Monday.
“Trader reliable crypto” is developing a clean triple tap on $ BTC here, ” coupleIt is important to describe an area of about $ 15,700.
Getting advantage still provides “very positive sign”
The opening of Tuesday’s US job helped to sideline the bull case for risk property and crypto.
Connected: ‘Largest Business Deal’ – 5 things to learn in bitcoin this week
In its one “Accelerated“Blog Post, analytics platform Cryptoctive also gave the green signal improving consumer confidence data as a reason for optimism.
“Today’s jales data, slightly less than expectations, provide ‘not too hot, not too cool’ for markets. This risk creates a positive environment for property,” it is summarized.
“In addition, the expected consumer confidence indicates a reversal after a 6 -month decline than the data, indicating the growing investor optimism about the future.”
Cryptoctive argued that the BTC value remained intact for the future, thanks to the overall decrease of sell-side pressure.
“Even when the price reaches the level of $ 120,000, we can indicate a top that can indicate a top that is not seeing a large -scale profit gain on the net -realized profit and loss (NRPL) chart,” it continued.
“This is a very positive sign. This means that investors are not running to take profits, showing that this step will continue.”
Cryptoctive argued that the cost base of various colleagues of short -term holders (STHS) should act as support in the event of a drawdown.
“Solid supports (feeling price): In potential pulsbacks, the cost base of short -term investors at ~ $ 115.7K and ~ $ 105K is ready to act as tested support areas,” this concluded.
There are no investment advice or recommendations in this article. Each investment and business move include risk, and readers should conduct their own research while taking decisions.
