$BTC Bitcoin Analysis $BTC

We notice in the chart that trading has continued for more than 9 days at a resistance area of $105,000, then the price broke through the resistance with a strong daily candle reaching the $107,000 area.

The price then sharply retraced to the $102,000 area to liquidate as many buying positions on Bitcoin and cryptocurrencies in general.

The price then quickly rose above the mentioned resistance due to the increased percentage of Bitcoin's dominance of the inflowing funds into the market in general.

Currently, Bitcoin is trading at a price of $107,200, which gives very good indicators for a rise and reaching new areas.

If the recent historical peak is broken and closed with a daily candle above it at prices of $109,000, followed by a monthly close above the resistance, the price could reach very high figures and then achieve a new historical peak, which could initially be at prices of $150,000 and then to $200,000, at which point it is expected that the current upward wave we are experiencing will end.