Bitcoin reached a new record of $109,000 before encountering strong resistance and pulling back, emphasizing the significance of the $110,000 mark as a major hurdle for buyers.

Despite the setback, there has been a gradual increase in whale accumulation, indicating that large holders might be preparing for another upward movement. When coupled with positive Ichimoku Cloud signals, Bitcoin seems to be establishing a technical base, though successfully surpassing resistance is crucial.

The rise in the number of Bitcoin whales, holding between 1,000 and 10,000 BTC, from 2,007 to 2,021 and then slightly reducing to 2,019, points towards renewed accumulation among major holders amidst recent price fluctuations. These whales play a crucial role in influencing the market, often signaling significant price shifts through their actions.

Monitoring Bitcoin whales is vital as their behavior can forecast major price changes by providing liquidity during pullbacks or driving upswings through substantial accumulation. The current whale activity reflects underlying support, with large holders either preparing for a breakthrough or strengthening their long-term belief in Bitcoin's potential.

Bitcoin's Ichimoku Cloud structure continues to display bullish indicators, with the price comfortably above the cloud indicating strong support for the uptrend. Various technical aspects, such as the alignment of Tenkan-sen and Kijun-sen lines, as well as the position of Chikou Span, confirm the short-term bullish momentum. This suggests a positive outlook with bulls maintaining control.

Following Bitcoin's brief surge to over $109,000, the subsequent pullback underscores the significance of the $110,000 level. To sustain the uptrend, Bitcoin needs to firmly close above this level. Failure to do so could result in a choppy or range-bound price action near current levels. Immediate support rests at around $106,119, with potential deeper corrections towards $104,584 or $101,549 if this level is breached. A stronger bearish trend could lead to a more significant retracement. To maintain the upward trajectory, bulls must overcome key resistances and demonstrate robust follow-through.