Bitcoin (BTC) price action shows signs of what analysts have called the “inevitable breakout” against the new all-time high.
Bitcoin is approaching a critical resistance zone of nearly $110,500, according to Cryptocurrency Trading expert Michaël Vande Poppe.
The analysis suggests that movements above $110,500 could surge rapidly to record levels.
In particular, previous breakouts above $106,500 pushed the price to $108,000, indicating how quickly Bitcoin can travel if a major liquidity level is violated.
“Beyond this level, it means that we will begin to accelerate into price action for the new ass, just as previous breaks above $106,500 accelerated price action towards $108,000,” the analysis says.
Poppe also highlighted that Bitcoin has recently cleared liquidity of nearly $108,924, but has only seen “it pull back slightly before a big breakout to ATH.”
He added that current consolidation, above $107,000, is bullish and could help assets rise to new record highs next week.
Bitcoin’s Important Liquidity Area
Supporting Bitcoin’s chances of hitting new highs in the coming days is an analysis by TED Pillow on June 28th at X-Post.
Experts say Bitcoin has shown strong momentum in liquidity bands of $108,000 and $109,000.
His outlook was accompanied by a Bitcoin liquidity heatmap showing key rest orders concentrated in this zone. If BTC claims this level, it will create more purchasing pressure and set the breakout stage to a new all-time high.
Bitcoin price analysis
At the press conference, Bitcoin has grown by around 0.25% in the past 24 hours, trading at $107,256, exceeding 4% in the past week.
All elements indicate a bullish price breakout if the maiden cryptocurrency cannot hold its current level, but the new purchase zone could be $105,500, and even under $100,000. These areas show accumulation of liquidity and could attract spot purchases if prices drop again.
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