$BTC

Bitcoin's technical analysis shows a mix of bullish and bearish signals. The cryptocurrency has demonstrated strong price action, with some analysts predicting new all-time highs above $110,000 driven by favorable regulatory environments and high demand from institutional investors. However, others note potential risks, including a daily bearish divergence that could dampen Bitcoin's hopes for a new high. Key metrics to watch include¹ ²:

- *Support Levels*: $102,500 and $103,500

- *Resistance Levels*: $107,000 and $110,000

- *Market Sentiment*: Growing buying pressure from US investors, with the Coinbase Premium Index rising

- *MVRV Ratio*: 2.34, indicating Bitcoin still has room to run before peaking

Overall, Bitcoin's price movement will likely depend on market sentiment, regulatory developments and macroeconomic trends.