Bitcoin continues to show a strong uptrend as it has surpassed the $106,000 level. After a correction to $102,000, BTC's price has rebounded strongly and is currently maintaining above the 100-hour moving average, opening up prospects for breaking key resistance levels ahead.

🔍 Recent price movements

  • The price of Bitcoin has rebounded from the $102,000 support area and quickly surpassed the $104,200 resistance level.

  • Strong buying pressure helped BTC exceed $105,000 and reach $106,000 – an area that was once strong resistance.

  • The increase has also surpassed the 76.4% Fib retracement level of the decline from the peak of $107,042 to the bottom of $102,100 – a signal reinforcing the short-term uptrend.

On the hourly chart of the BTC/USD pair, a short-term uptrend line has formed with support near $105,800, indicating that market sentiment is still leaning towards the buyers.

💡 Bullish scenario

  • The nearest resistance level is the $107,000 area. If BTC can close a candle above this level, the uptrend may be extended.

  • The next strong resistance is at $107,500. Breaking this level could pave the way for a strong rally to target areas:

    • $108,800

    • $110,000 – an important psychological milestone

  • If the uptrend continues, Bitcoin has a good chance of establishing a new historical peak in the near term.

🔻 Adjustment scenario

However, if BTC fails to surpass $107,000, a short-term correction may occur:

  • First support: $105,800 – coinciding with the uptrend line.

  • If this support is broken, the price may retest $105,000.

  • A more important support level lies at $104,200. If it continues to weaken, the price could drop to the $103,500 area, even $102,500 – which serves as a key support in the short term.

📊 Technical indicators

  • MACD: Still in the positive zone – supporting the uptrend.

  • RSI (Relative Strength Index): Above 50, indicating that bullish momentum is still present.

🧠 Conclusion

Currently, Bitcoin is showing clear strength after bouncing back from $102,000. With the breaking of numerous resistance levels, BTC has the potential to aim for $110,000 and beyond if it surpasses $107,500.

However, investors need to closely monitor key support levels in case a correction occurs, especially the $104,200 and $102,500 areas. Risk management and avoiding "FOMO" is essential in this period of high volatility.