🔥 Bitcoin Nears ATH — One Final Push or a Fakeout?
Bitcoin again rose beyond $105,500. BTC is stabilizing and may reach $108,000.
Bitcoin rose again from $102,500.
The price is over $103,500 and the 100-hour SMA.
On the hourly BTC/USD chart, a bullish trend line with support around $104,200 is formed.
If it breaks $106,000, the pair may rise.
Bitcoin Gains Continue
Bitcoin left the $102,500 support zone and rose. BTC built a base and broke $103,500 barrier. The bulls pushed it beyond $104,200.
Bulls drove prices beyond $105,000. After hitting $107,042, the price is correcting. Price fell below $105,500. The price fell below the 50% Fib retracement line of the $103,346 swing low to $107,042 high.
It stays steady at $104,000. On the hourly BTC/USD chart, a bullish trend line with support around $104,200 is formed. Bitcoin is over $104,500 and the 100-hour SMA.
Close to $105,500 is immediate upward barrier. First major resistance is around $106,000. The next hurdle may be $107,500. A closing above $107,500 resistance might boost prices. The price may soar to $108,800 resistance. New advances might push the price beyond $110,000 and an all-time high.
Another BTC Drop?
Bitcoin may correct again if it fails to break $105,500. Near $104,500 is immediate downside support. First big support is between $104,200 and the trend line.
Around $103,500 is the next support. More losses might push the price toward $102,200. BTC may go below $100,500, the primary support.
The technical indications
Hourly MACD - MACD is falling in the positive zone.
Relative Strength Index hourly BTC/USD RSI is over 50.
Major Support Levels: $104,200, $103,500.
Key Resistance Levels: $105,500, $106,000.
