Title of the article: Bitcoin Price At $110,000: Why BTC Must Break Out Of This Wedge

Bitcoin’s Critical Price Point
Bitcoin is currently trading around the $107,000 region after rebounding from a $99,000 low earlier in the week. However, its progress is being capped just beneath a key resistance level at $108,000. This resistance is now acting as the pivot for a descending wedge pattern that could dictate the crypto’s next major move.

The Descending Wedge Pattern
Technical analysis on the 1-hour candlestick chart reveals that Bitcoin’s price is coiling into a descending wedge pattern. This pattern is typically viewed as a consolidation phase where price compression may lead to a significant breakout. Analyst Daan has noted that a sustained move beyond this wedge formation could be crucial for Bitcoin to reach or surpass its potential all-time high, targeted at approximately $110,000.

Recent Price Trends & Analyst Insights
After rejecting moves just above $108,000 on July 26, Bitcoin has increasingly shown signals of a build-up phase. Analysts highlight that the consolidation phase is essential, with each test of the wedge boundaries enhancing the probability of a strong upward breakout. Crypto experts suggest that breaking free from this tight range might not only clear technical hurdles but also trigger renewed investor enthusiasm.

What this Means for Global and Crypto News
For both cryptocurrency news followers and global crypto market observers, Bitcoin's behavior around the $110,000 mark serves as a critical inflection point. The outcome of this wedge breakout could shape broader market sentiment, influencing prices across the crypto sector. If Bitcoin is to climb steadily to this target, market participants will need to watch for increased volume and a shift in momentum indicators.

Forecast and What to Watch Next
Looking ahead, traders should keep an eye on volume spikes, changes in momentum indicators, and investor sentiment. If Bitcoin manages a clean breakout from the wedge structure, it would signal a strong bullish trend that may open doors to higher price levels. However, failure to break through could lead to continued consolidation, making this a pivotal moment for the market.