Bitcoin price fails to hold $110,000, potential drop to $105,000 due to economic concerns

Bitcoin failed to hold $110,000 support, signaling potential price drop to $105,000 due to US job data and rate cut hopes dashed. Historical rejections at all-time highs preceded 14-18% drops in price, with resistance at $110,000 reinforced by technical indicators. Bears could defend $110,000, pushing price lower towards $105,000. Bulls need clear break above $110,000 to end consolidation and enter price discovery, with major supply zone at $110,000 to $112,000 to overcome. Short squeeze possible if $110,000 broken, leading to $114,000 target. Heavy bid orders at $108,000, with clusters from $107,700 to $105,000.

Read more at Cointelegraph: Key Bitcoin Price Levels To Watch as BTC Rally Stalls at $110K