📈 Overall picture — continuation of growth
Recently, a breakout from the 'flag' occurred, confirming the continuation of the upward trend. The RSI indicator is not yet in the overbought zone — there is room for growth.
Golden cross (intersection of 50-day and 200-day moving averages) strengthens the signal for further rise.
Key resistance and support levels
Resistance: around $112,000 — closer to levels at May highs.
Next targets upwards: up to $137,000, if current strong bullish trends persist.
Support:
around $107,000 — revision of levels from December–January;
secondary level — approximately $103,700, will act as an SSD zone and safety cushion;
on a deep pullback — $100,000 is psychologically significant.
Trading risk tactics — levels of nearest patterns
On the 2-hour timeframe, an ascending line has formed from the lows of early June — if the breakout > $105,772 and 50-EMA, growth to is possible:
$106,685 (50% Fibonacci level);
then $107,598 (61.8% Fib).
Stop-loss can be placed just below $104,500 (swing point) — this is a logical exit point upon reversal.
Alternative scenario: if it drops below ~$104,600, the pullback target is $102,817.
Indicators and short-term signal
Tools on TradingView and other platforms in the range:
Moving Averages: predominantly neutral or slightly sell;
Oscillators: mixed signals, but there is a chance to take a short position at resistance in the $106–107k range.
TipRanks analytics suggests hold, but with reversal potential if it drops below $104k.
✅ Conclusion
Scenario Conditions Goals
📈 Bulls Breakout > $105,772 & 50-EMA $106,685 → $107,598 → $112,000 → $137,000
🔻 Bears Breakout < $104,600 $102,817 → $100,000
The resistance zone at $112k is concerning — an important boundary. But for now, the trend is steadily upwards. Support levels ($107k, $103.7k, $100k) can be used for adjusting stop-losses.