The current Bitcoin price is around 111,000, and the market is at a critical position, with short-term trends potentially facing a directional choice. From a technical perspective, the price has broken through previous highs but has yet to confirm a valid hold, requiring further observation of volume conditions. The important support area below is in the 105,000-108,000 range, while resistance above is around 115,000-118,000, which is a psychological pressure point and also a key area of Fibonacci extension. If it can break through with volume, it may open up new upward space.
From the technical indicators, the current moving average system is still in a bullish arrangement, but the price has deviated significantly from the short-term moving averages, indicating a certain need for correction. The MACD indicator shows signs of convergence at a high level; if a death cross occurs, it may signal a short-term adjustment. The RSI indicator is approaching the overbought area on the 4-hour level; if a top divergence occurs, the probability of a correction increases.
In terms of operation, short-term traders can pay attention to the breakthrough situation at key positions. If the price can break through 115,000 with volume, consider lightly entering with a target of 120,000. If the price falls below 108,000 and confirms a 4-hour closing below, the short-term trend may turn bearish, targeting the 105,000 support level.