If the BTC coin price fails to hold $110,500, the market is at risk of further decline. In this situation, the analyst will target the key technical support level of the BTC coin price located at $100,000 as a potential level for the next correction. He has set a clear condition for the continuation of this rally. BTC’s ability to push higher is entirely dependent on holding above the $110,500 resistance level. Holding this key level will create enough positive momentum for the market to move further upwards. Which will see the BTC coin price target the key resistance at $120,000 and potentially higher if there is a strong conviction.
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If the BTC coin price fails to hold $110,500, the market is at risk of further decline. In this situation, the analyst will target the key technical support level of the BTC coin price located at $100,000 as a potential level for the next correction. He has set a clear condition for the continuation of this rally. BTC’s ability to push higher is entirely dependent on holding above the $110,500 resistance level. Holding this key level will create enough positive momentum for the market to move further upwards. Which will see the BTC coin price target the key resistance at $120,000 and potentially higher if there is a strong conviction.