Bitcoin Daily Close Spurs Caution – $110,500 Breakdown Could Shift Momentum

Cryptowzrd, in a fresh update on Bitcoin’s daily technical outlook, noted that the market closed bearish, leaving room for further downside. A decisive close below the $110,500 support could mark a key shift, making lower levels worth ￰0￱ 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 ￰1￱ breakdown is significant and could invite further selling pressure in the sessions ahead if buyers fail to reclaim the ￰2￱ Reading: Is The Bitcoin Rally Over? Analyst Forecasts Drop To $94,000 If This Level Doesn’t Hold 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 ￰3￱ the analysis, he also highlighted the performance of Bitcoin Dominance (BTC. D), which closed indecisively while displaying ￰4￱ weakness in dominance is often viewed as a positive signal for altcoins, as it suggests capital is flowing away from Bitcoin and into alternative ￰5￱ a shift in market dominance reflects growing market confidence in ￰6￱ 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 ￰7￱ into the weekend, he emphasized the importance of staying rational and avoiding overextending in either direction, maintaining measured strategies while waiting for clearer confirmation ￰8￱ 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 ￰9￱ level has now become critical, as losing it signals weakening buyer strength and raises the risk of further downside ￰10￱ Reading: Bitcoin Rally Over?

CryptoQuant’s Bull Score Index Turns Bearish He explained that if Bitcoin retests $110,400 and fails to reclaim it, the level could flip into ￰11￱ a scenario would likely trigger a short setup, with price action targeting the $105,500 support area or even extending lower if bearish momentum ￰12￱ makes the $110,400 region a decisive battleground for traders closely watching intraday ￰13￱ 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 ￰14￱ image from Getty Images, chart from ￰15￱