🚀 Bitcoin Reclaims Bullish Momentum — Is a Fresh Rally Just Getting Started?

Above $105,500, bitcoin price rose again. BTC is stabilizing and may break $108,000 resistance.

Bitcoin rose beyond $105,500 again.
The price is over $105,500 and the 100-hour SMA.

The hourly BTC/USD chart shows a bullish trend line with support at $107,400.

If it remains over $106,000, the pair may rise again.

Bitcoin Price Expects Growth

Bitcoin rose beyond $103,500 again. BTC gained momentum and crossed $104,200 and $105,500 to reach a bullish zone.

Bulls broke $106,500 resistance and challenged $108,200. Since the price hit $108,165, it is consolidating gains above the 23.6% Fib retracement line of the upward run from $98,272 swing low to $108,165 high.

Bitcoin is over $106,000 and the 100-hour SMA. The hourly BTC/USD chart shows a bullish trend line with support at $107,400.

Close to $108,000 is immediate upward barrier. The first major resistance is $108,200, or the 1.236 Fib extension level of the negative move from $106,470 swing high to $98,276 low. A closing above $108,200 barrier might boost prices. If the price rises, it may challenge $110,000 resistance. More advances might push the price beyond $112,000.

Another BTC Drop?
Bitcoin may fall again if it fails to break $108,500. Current support is between $107,400 and the trend line. Near $105,500 is the first big support.

The next support is at $104,000. More losses might push the price toward $103,500. BTC may go below $103,200, the primary support.

The technical indications

The MACD is rising in the positive zone.

Relative Strength Index hourly BTC/USD RSI is over 50.

Major Support Levels: $107,400, $105,500.

Key Resistance Levels: $108,500, $110,000.

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