Bitcoin Technical Analysis: Is the Breakthrough of 115,000 Approaching?

The price of Bitcoin is consolidating below the 110,000 mark, continuously breaking market expectations and consolidating recent gains. In recent weeks, the key resistance level of 103,000 has effectively transformed into support, forming a clear bullish structure.

Technically, the 50-day moving average and the 200-day moving average have formed a golden cross, which is a classic bullish signal. This pattern usually indicates the end of a bear market and the beginning of a long-term rebound, further validating that a new round of upward trend may have started, with the next target pointing directly at 115,000.

Although the target of 115,000 seems far from reach, Bitcoin has repeatedly proven that with strong momentum, these targets can be easily achieved. The support structure of Bitcoin and the clear breakout from previous resistance levels may even set historical highs in the near future.

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